2020 (2) TMI 327

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....counsel, revenue for the appellant . 2. This appeal under Section 260A of the Income Tax Act, 1961 ("the Act" for short) is directed against the order dated 22.7.2016 passed by the Income Tax Appellate Tribunal, Mumbai Bench "J", Mumbai ("Tribunal" for short) in Income Tax Appeal No. 4333/M/2015 for the assessment year 2009-10. 3. Following two questions have been proposed as substantial que....

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....n the circumstances of the case and in law, the Tribunal was justified in allowing the carry forward of deficit and allowing set off against the income of the subsequent years, allowing the deficit will tantamount to double deduction on account of expenditure out of exempt income?" 4. Mr. Suresh Kumar very fairly submits that in so far question No. (i) is concerned, the same has been answered i....