2021 (11) TMI 309

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rge 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 expenditure over income. 2. On facts and circumstances of t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....T." 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. disallowed carry forward of excess expenditure. 4. Aggrieved, the assessee preferred an app....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....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 excess expenditure. The issue raised in no longer res integra. The Hon'ble jurisdictional....