2024 (11) TMI 634

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.... for the assessment years 2015-16. Through the aforesaid appeal the assessee has challenged order u/s 250 dated 03.05.2024 passed by NFAC, Delhi. 2.0 The primary issue challenged by the revenue through this appeal is the grant of relief by the CIT(A) of treating the assessee as eligible for exemption u/s 11 of the ITA in spite of the fact that the return was filed using ITR-6. It has been contested that the doctrine of res judicata do not apply to direct taxes. The revenue has further agitated the issue of grant of depreciation on the premise that assets were bought out of government grants. 3.0 Brief factual matrix of the case is that the assessee trust had filed its return of income using ITR-6. The assessee is engaged in the activi....

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.... and project fund of Rs. 28.56 lakhs as well as an ROC fees of Rs. 9 lakhs. The Ld. CIT(A) held that because in the immediately preceding assessment years i.e AY-2014-15 same facts were present and the Ld. AO had allowed to assessee exemption u/s 11 of the Act therefore in line with principle of consistency and rest judicata exemption u/s 11 is available. He held that filing of return under ITR-6 would be immaterial. Grounds of appeal raised before the First Appellate Authority qua merits of addition being alternative grounds were rejected as being infructuous. 4.0 The Ld. DR vehemently argued in favour of the order of the assessing officer supporting the line of arguments narrated in the assessment order. The Ld. AR argued in favour of ....