TaxTMI 
TaxTMI 
2021 (2) TMI 270
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.... CIT(A) has erred in law in allowing the claim of carry forward of losses disregarding the fact that set-off and carry forward of losses are dealt with by the provisions of section 70 to 74 of the Income Tax Act. 3. The Ld. CIT(A) has erred in law & fact that allowing depreciation of fixed assets is tantamount double deduction as the expenditure on fixed assets is already allowed. 4. The appellant craves leave to add, to alter or amend any ground of appeal raised above at the time of hearing." (B) At the time of hearing before us, the Ld. Counsel for assessee submitted that the disputed issues in this case are covered in favour of the assessee's own case. The Ld. Counsel of the assessee further submitted that, in identical facts, in assessee's own case, the Co-ordinate Bench of ITAT, Delhi has already taken a view, on the disputed issues, in favour of the assessee vide order dated 08.08.2019 in ITA No. 2761/Del/2017 for Assessment Year 2013- 14. The Learned Commissioner of Income Tax (Departmental Representative) ["Ld. CIT(DR), for short] appearing for Revenue accepted that all the issues in disputed were covered in favour of the assessee by the aforesaid order....
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....ndation Poona Supreme Court of India 89 taxmann.com 127 VI. Director of Income tax v. Raghuvanshi Charitable Trust High Court of Delhi 197 taxman 170" (B.1) At the time of hearing before us, the Ld. Authorized Representative ("AR", for short) of the assessee submitted that all the disputed issues are covered in favour of the assessee by the aforesaid judicial precedents. The Ld. AR of the assessee further submitted that, in identical facts, in assessee's own case, the Co-ordinate Bench of ITAT, Delhi has already taken a view, on the disputed issues, in favour of the assessee vide aforesaid order dated 23.05.2019. The Ld. CIT(DR) appearing for Revenue accepted that all the issues in dispute were covered in favour of the assessee by the aforesaid judicial precedents, in which, in identical facts, the disputed issues were decided in favour of the assessee. (B.1.1) Relevant portion of the aforesaid order dated 20.04.2005 of Co-ordinate Bench of ITAT, Delhi in ITA No. 4571/Del/2004 in assessee's own case i.e. The Delhi Public School Society vs. DCIT(E) is reproduced as under: (B.1.2) The relevant portion of the aforesaid order dated 23.05.2019 of Co-o....
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....inate bench. The relevant observation reads as under: "Ground No. 1 4. This ground has been raised by revenue against the addition that has been deleted in respect of franchisee fees received by assessee from different satellite schools which are running under the name and logo of assessee, having different management than assessee society. 4.1 It is seen from various orders placed in the paper book for the various assessment years in assessee's own case passed by this Tribunal that this issue now stands settled in favour of assessee and against revenue. It is also observed that Ld. CIT(A) followed the binding decision of this Tribunal in assessee's own case for the previous assessment years. In view of above, we do not find any infirmity in the order passed by Id. CIT(A) and the ground raised by Revenue stands dismissed. " 5. Respectfully following the aforesaid precedence, which is also applicable in this ground of the Revenue is dismissed. 6. In ground no. 2 in ITA No. 6627/Del/2015 (supra), the relevant findings given qua ground no. 2 & 3 of appeal have been given in paragraph 5 which reads as under: "5. This ground has been....
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....ice. " 7. Thus, respectfully, following the same, ground no.2 is dismissed. 8. In grounds no.3 & 4 in ITA No.6627/Del/2015 (supra), the relevant findings given qua grounds no.4 & 5 of that appeal at paragraph 6.2 read as under: 6.2.1 Ld. AR a the outset submitted that the issue stands covered by this Tribunal in ITA No. 4081/Del/2012 for assessment year 2009-10. This Tribunal dealt with this issue as under: "16. We have heard the rival contentions in light of the material 'produced and precedent relied upon. Ld. Counsel of the assessee submitted that the issue is covered in favour of the assessee by the decision of the Hon'ble jurisdictional High Court in the case of Raghuvanshi Charitable Trust (Supra). The Ld. Departmental Representative could not produce any decision contrary in this regard. 17. Hence, upon careful consideration, we find that the Hon'ble jurisdictional High Court in the case of D.I.T. vs. Raghuvanshi Charitable Trust (Supra) has held as under (Heads notes only):- "Section 11 of the Income Tax Act, 1961 - Charitable or religious trust - Exemption of income from property held under - Whether a trust can be a....
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....aritable purposes in subsequent year within meaning of section 11(1)(a). (C) We have heard both sides. We have perused the materials available on record. We have also considered the judicial precedents brought to our notice. At the time of hearing before us, both sides have agreed that the issues in dispute are covered in favour of the assessee by the aforesaid judicial precedents mentioned in foregoing paragraphs (B) and sub paragraphs (B.1), (B.1.1), (B.1.2), (B.2), (B.2.1) and (B.2.2). The first ground of appeal is dismissed accordingly and the issue is decided in favour of the assessee, respectfully following the precedents referred to in the foregoing paragraphs (B.1.1), (B.1.2), and (B.2) of this order. Further, respectfully following the aforesaid precedents referred to in foregoing paragraphs (B.1.2) and (B.2.2) of this order, the second ground of appeals is dismissed and the disputed issue is decided in favour of the assessee. Furthermore, respectfully following the aforesaid precedents referred to in foregoing paragraphs (B.1.2) and (B.2.1) of this order, third ground of appeal is dismissed, and the disputed issue is decided in favour of the assessee." ....
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....whede die educational institution exists solely for the purpoac of education and not charpuse of profit. In this regard we have also perused the copy of notification de 8.7.0.1 issued by the Director General of Income Tax Exemption, New Delhi). The assessee has been duly approved as an dusational Instinution for the purpose of sub. Clause (vil of Clause 23C 10 of the IT Act As already stated, any income of an In view of the educational institution notified u/s 10 (23C)(vi) is exempt. cation referred to above, there can be no question of bringing to ounts received from the collaborators school by terming the sa receipts as business income. We also find that one of the objects of t assessee is to establish progressive schools or other education institutions in Delhi or outside Delhi. Perusal of the agreement und which satellite schools were being set up by the assessee, also show: that apart from allowing the satellite schools to use the name of Delt Publish School and its Logo and Moto, the assessee also undertake rendering of several services. These services include imparting of education and providing the necessary staff to ....