2016 (9) TMI 294

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....ial Member Revenue by : Ms. Anima Barnwal, Senior DR Assessee by : Shri Sanjay, Advocate ORDER Per G. D. Agrawal, VP The appeal by the Revenue and the cross-objection by the assessee are directed against the order of learned CIT(A)-XXIX, New Delhi dated 28th December, 2011. 2. The Revenue has raised the following ground in its appeal :- "On the facts and in the circumsta....

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....nd circumstances of the case CIT(A) erred in upholding the addition of Rs. 38,43,547/- as the 20% of Rs. 1,92,17,732/- (Ground no.2.2 before CIT(A) para 4). 4. That on the facts and circumstances of the case CIT(A) erred in upholding the addition of Rs. 54,09,879/- being 5% of labour charges of Rs. 10,8197,584/- (Para 6 of CIT(A) order)." 4. At the time of hearing, we have noticed that....

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.... quantum of the loss, whether it is Rs. 10.55 crores or Rs. 12.44 crores, became only of academic nature. Learned DR fairly submitted that if no set off of loss is claimed in the subsequent year, the appeal can be treated as of academic nature having no tax effect either for the assessee or for the Revenue. The assessee, vide letter dated 16th August, 2016, has submitted in writing that the assess....