2018 (8) TMI 984

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....RAL ORDER (PER : HONOURABLE MR.JUSTICE M.R. SHAH) 1. Feeling aggrieved and dissatisfied with the impugned common judgment and order passed by the learned Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, "C" passed in ITA No.1422/Ahd./2017 for the Assessment Year : 2012-13 and ITA No.1605/Ahd./2017 for the Assessment Year : 2013-2014, the Revenue has preferred the present two Tax Appeal....

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.... [C] Whether on the facts and in the circumstances of the case and in law, the Appellate Tribunal is correct in not upholding the order of the CIT(A) in confirming the following additions made by the AO :- (i) of Rs. 58,00,00,000/- denying accumulation u/s.11(2) of the Act; (ii) of Rs. 43,26,20,000/- denying deduction of receivables u/s.11(1) explanation clause (2); ....

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....s not in dispute that the issues involved in the present Tax Appeals are squarely covered against the Revenue, in view of the decision of the Division Bench of this Court in the case of Ahmedabad Urban Development Authority vs. Assistant Commissioner of Income Tax (Exemptions) reported in [2017] 396 ITR 323 (Guj). 4. Therefore, so far as this Court is concerned, these issues are concluded again....