2011 (12) TMI 781

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.... 2. The ld. Sr. DR submits that the facts of the case are identical with the facts of the case for the A.Y. 2006-07 in the case of assessee. For that year, the Tribunal had passed its order on 31.03.2011 in ITA No. 1233/Del/2010, a copy of which has been placed before us. Therefore, it is argued that the finding recorded in paragraph 5.2 of that order may be made applicable to this year also. 2.1 In reply, the ld. Counsel for the assessee submitted that the facts are distinguishable. The AO has recorded a finding that cash book, bank book, ledger, bills/vouchers etc. have been produced in the course of assessment proceedings, which have been examined on a test check basis. The assessee has filed the details requisitioned from it and such....

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....bunal on 31.03.2011, ought to be followed in the interest of consistency as well as the order being a precedent of binding nature. Accordingly, the order is followed. Paragraph 5.2 of that order is reproduced overleaf for ready reference: - "5.2 The provision contained in section 11(4A) is clear to the effect that various deductions u/s 11 shall not be admissible in relation to any income, being profits and gains of business profit. Thereafter, a concession is also given that if - (i) the business is incidental to attainment of objectives of the institution, and (ii) separate books of account are maintained in respect of such business, the assessee will become entitled to other deductions u/s 11. However, the other deductions will ....