TMI Blog2020 (2) TMI 327X X X X Extracts X X X X X X X X Extracts X X X X ..... Banking Personnel Selection [ 2003 (7) TMI 52 - BOMBAY HIGH COURT] . This finding has been affirmed by the Supreme Court in Commissioner of Income Tax-III, Pune Vs. Rajasthan Gujarati Charitable Foundation Poona [ 2017 (12) TMI 1067 - SUPREME COURT] Carry forward of deficit and allowing set off against the income of the subsequent years - Whether allowing the deficit will tantamount to d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar 2009-10. 3. Following two questions have been proposed as substantial questions of law:- (i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was erred in allowing the assessee's appeal on account of disallowing depreciation in contravention of the decision in the case of Escorts Ltd. V/s UOI (199 ITR 43) wherein it was held that since Section 11 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t in so far question No. (i) is concerned, the same has been answered in favour of the assessee and against the revenue by this Court in Commissioner of Income Tax Vs. Institute of Banking Personnel Selection (IBPS)[2003] 131 Taxman 386 (Bombay).. This finding has been affirmed by the Supreme Court in Commissioner of Income Tax-III, Pune Vs. Rajasthan Gujarati Charitable Foundation Poona [ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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