2021 (11) TMI 309

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....Satish Mody, Advocate ORDER Per George George K., JM This appeal at the instance of the Revenue is directed against CIT(A)'s order dated 16.09.2020. The relevant assessment year is 2016-2017. 2. The grounds raised read as follows:- "1. On facts and circumstances of the case, the CIT(A) has erred in allowing the claim of the assessee for carry forward of excess of expenditu....

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....e. 5. Any other ground that may be submitted before the Hon'ble ITAT." 3. The brief facts of the case are as follows: The assessee trust was granted registration u/s. 12A of the I.T. Act, 1961. For the relevant assessment year, return of income was filed on 15.10.2016. The assessment u/s. 143(3) of the I.T. Act was completed vide order dated 28.12.2018, wherein the A.O. disallow....

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....ption) v. Agastya International Foundation reported in: (2019) 417 ITR 539 (Kar.) and the judgment of the Hon'ble Apex Court in the case of CIT (Exemption) v. Subros Educational Society reported in (2018) 303 CTR 1 (SC). 7. We have heard rival submissions and perused the material on record. The solitary issue raised for our adjudication is whether the assessee is entitled to carry forward e....