2020 (3) TMI 348

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....he Income Tax Act, 1961 (briefly "the Act" hereinafter) assailing the order dated 30th November, 2016 passed by the Income Tax Appellate Tribunal, Mumbai Bench "B", Mumbai (briefly "the Tribunal" hereinafter) in Income Tax Appeal No.4768/Mum/2013 for the assessment year 2006- 07.   3. The appeal has been preferred proposing the following questions as substantial questions of law:- "(a) Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in deleting the orders of A.O. without acknowledging the fact that once the trust loses its character being hit by the proviso to section 2(15) of the Act, the only blanket available to it, was principle of mutuality. Further the Tribunal also failed ....

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....undation in which leave granted by the Hon'ble Apex Court-S.L.P. (C)No.24904 of 2016 (C.A.No.8294 of 2016) and pending for adjudication? (d) Whether on the facts and in the circumstances of the case and in law, the Tribunal erred in relying upon the judgment of Hon'ble Bombay High Court in the case of Institute of Banking Personnel Selection, ignoring the fact that the Department has not accepted the said decision of the jurisdictional High court on merit of the case, but due to smallness of tax effect appeal was not filed before Hon'ble Supreme Court. However, on the issue the department has filed SLP before the Apex Court in the case of MIDC (SLP (Civil) 9891 of 2014) in which leave granted by the Hon'ble Apex court after conside....