9911796707
TMI Blog2015 (9) TMI 1736X X X X Extracts X X X X X X X X Extracts X X X X ..... filed this appeal challenging the order dated 13.2.2015 passed by the ld. CIT(A)-7, Mumbai and it relates to the assessment year 2010-11. 2. The effective grounds of appeal urged by the Revenue read as under: "1. Whether on the facts and circumstances of the case and in law, the ld. CIT(A) was right in holding that the assessee performs a charitable purposes within the meaning of section 2(15) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee is a trust, formed with the objective of encouraging physical education by training and coaching in various sports disciplines. The trust was registered u/s 12A of the Act by the Director of Income Tax (Exemption), Mumbai. It is also registered with Charity Commissioner, Mumbai. The AO, by following the assessment order passed by him for the assessment year 2009-10, held that the activities ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessment years 2007-08 to 2009-10. Accordingly, the ld. CIT(A) held that the assessee is a Charitable Institution and its income has to be computed u/s 11 to 13 of the Act. The ld. CIT(A) also held that the assessee is entitled to carry forward and claim set off of the deficit (Excess application of income made) arising in the earlier years against current year's income u/s 11 of the Act. For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act. Hence, we do not find any infirmity in the order of ld. CIT(A) with regard to the first issue. 6. With regard to the second issue, we notice that the ld. CIT(A) has followed the decision rendered by the Hon'ble Jurisdictional High Court in the case of CIT Vs. Institute of Banking Personnel Selection (supra). Hence, we do not find any reason to interfere with the order passed by the ld. CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
