2019 (3) TMI 1912

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....Shri C. K. Singh, D.R. O R D E R PER T. S. KAPOOR, A.M. This is an appeal filed by the assessee against the order of learned CIT(A)-I, Kanpur dated 10/05/2018 pertaining to assessment year 2015- 2016. 2. Learned A. R., at the outset, submitted that the assessee filed its return of income claiming exemption u/s 11 of the Act. It was submitted that the assessee had claimed exemption u/s ....

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....We have heard the rival parties and have gone through the material placed on record. We find that copy of profit & loss account and balance sheet is placed at pages 47 & 48 of the paper book. The gross receipt as per profit & loss account page 48 is Rs. 1,85,189/- and after claiming certain expenses, there is net loss of Rs. 97/-. The assessee by mistake had claimed exemption u/s 11 of the Act to ....