2016 (5) TMI 1389

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....A of the Income Tax Act, 1961 (the Act), challenges the order dated 21st March, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal) for the Assessment Year 2007-08. 2. The Revenue urges the following questions of law for our consideration: "(a) Whether on the facts and in the circumstance of the case and in law, the Tribunal was justified in confirming the order of the CIT(A) to all....

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....e SLP against the case of CIT v/s. Institute of Banking Personnel Services reported in 264 ITR 110 (Bom)due to low tax effect?". 3. We find that the impugned order of the Tribunal has dismissed the Revenue's appeal on both the issues namely - allowability of depreciation on capital assets acquired for the purposes of carrying out charitable activities and set off of deficit of earlier years a....