2020 (7) TMI 195

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....cate and Shri Himanshu Aggarwal, CA. ORDER PER G. S. PANNU, VP : This appeal by the Revenue for the assessment year 2013-14 is directed against the order of learned CIT(A)-40, New Delhi dated 10th July, 2017. 2. In this appeal, the solitary grievance of the Revenue is enumerated in the following ground of appeal :- "Whether on the facts and circumstances of the case and in law, the Ld.CIT(....

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....ncome of the current year inasmuch as the same could not be treated as an application of the income of the current year. In this manner, the Assessing Officer assessed the total income at Rs. 7,87,85,919/-, being the excess of income over expenditure for the current year. 4. In appeal before the learned CIT(A), assessee canvassed that the action of the Assessing Officer in not allowing the adjust....

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....learned CIT(A) set aside the action of the Assessing Officer and allowed the plea of the assessee for setting-off of carried forward amount of deficit of earlier years in order to compute the assessable income for the year under consideration. Against such a decision, Revenue is in appeal before us as per the aforestated Ground of appeal. 6. Before us, it was a common ground between the parties t....