https://www.taxtmi.com/caselaws?id=270652 The Tribunal dismissed the Revenue's appeals and affirmed the CIT(A)'s order. It held that 15% of the gross income should be deducted before computing the surplus or deficit, allowing the assessee to carry forward the deficit. Relying on legal precedents, including the Hon'ble Apex Court's judgment, the Tribunal found no merit in the Revenue's arguments and upheld the CIT(A)'s decision regarding the computation method and carry forward of the deficit. en-us Fri, 14 Aug 2015 00:00:00 +0530 Mon, 11 Jan 2016 14:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270652 The Tribunal dismissed the Revenue's appeals and affirmed the CIT(A)'s order. It held that 15% of the gross income should be deducted before computing the surplus or deficit, allowing the assessee to carry forward the deficit. Relying on legal precedents, including the Hon'ble Apex Court's judgment, the Tribunal found no merit in the Revenue's arguments and upheld the CIT(A)'s decision regarding the computation method and carry forward of the deficit. Case-Laws Income Tax Fri, 14 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270652