2018 (5) TMI 277

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....Ketan Ved, Ld. AR. Revenue by : V.Vidhyadhar, Ld. DR O R D E R Per Bench 1. The captioned appeal by revenue for Assessment Year [AY] 2010-11 contest the order of Ld. Commissioner of Income-Tax (Appeals)- 2 [CIT(A)], Mumbai Appeal No.CIT(A)-2/IT-25/2013-14 dated 14/03/2016. The assessment for impugned AY was framed by Ld. Deputy Commissioner of Income Tax-1(1) on 06/03/2013 u/s 143(3) o....

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....nance services was assessed for impugned AY at loss of Rs. 10.81 crores after certain adjustment of professional income for Rs. 1.01 crores as against returned loss of Rs. 9.79 crores e-filed by the assessee on 30/10/2010. The aforesaid adjustment of professional income is the sole subject matter of this appeal. 2.2 Upon perusal of details filed by the assessee during assessment proceedings, th....

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....r Assessee [AR], at the outset, drew our attention to the order of this Tribunal in assessee's own case for AY 2009-10 and submitted that the issue stood covered in assessee's favor by the cited judgment and therefore, the factual matrix being the identical, the same should be followed. The Ld. DR fairly conceded the same. 5. Upon perusal of order of this Tribunal in ITA No. 4135-36/Mum/2015 or....

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....ecision from Hon'ble Apex Court in CIT vs. Excel Industries Ltd., The tax rate in both the years is same, thus, we find no infirmity in the conclusion of the learned CIT(A). Finally, both the appeals of the Revenue are dismissed. Since the facts are identical, respectfully following the same, the appeal of the revenue stands dismissed. To make it more clear, the said adjustment of Rs. 1.....