2021 (9) TMI 1486

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....espondent :by Sh. Ravi Pratap Mall, Adv & Sh. C. S. Aggarwal, Sr. Adv. ORDER PER SUCHITRA KAMBLE, JM This appeal is filed by the Revenue against order dated 12/12/2017 passed by CIT(A)-Haldwani for assessment year 2014-15. 2. The grounds of appeal are as under:- 1. "The Ld. CIT(A) has erred in law and facts in deleting the additions of Rs. 17,15,732/- made by the AO against the surplus rec....

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....establish and develop schools and colleges for imparting education and also medical aid to the needy. The assessee trust is registered u/s 12A of the Income Tax Act, 1961 with the Commissioner of Income Tax, Meerut vide SI. No. 11/89-90, C.N. 40(3)/ Registration/Rishikesh/81-90/C.I.B. /22448 dated 31.01.1990 w.e.f. 01.04.1989. The Assessee trust furnished its return of Income for A.Y. 2014-15 on 2....

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....IT(A) and the order of the Tribunal in assessee's own case being . 7. We have heard both the parties and perused all the relevant materials available on record. It is pertinent to note that for A.Y. 2002-03 also the Tribunal has dismissed the appeal of the Revenue vide order dated 04.10.2006, thereby granting benefit of the exemption u/s 11/12 of the Income Tax Act, 1961. Thereafter from A.Ys. 20....

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....-11 which was decided in favour of the assessee by the Tribunal. In fact, during the year under consideration, the assessee in its books of account claimed depreciation of Rs. 22,90,026/- on the movable assets of the Trust, however this depreciation amount was added back in the return of income and was not claimed as application of income which is evident from the balance sheet and computation of ....