The DCIT(EXEMPTION), Bhopal V. M/s. Ratnapuri Shri Gurukripa Shiksha Prasar Avam Sewa Samiti, Ratlam

ITA 104/IND/2017

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 6515 (ITAT-INDORE)
• Duration Of Justice: 1 year(s) 5 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 16-07-2018
• Assessment Year: 2013-2014
• Appeal Filed On: 15-02-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K G GOYAL
• Assessee Lawyers: S S DESH

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE , , BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER . . /. I.T.A. NO. 104 /IND/201 7 [[ / ASSESSMENT YEAR: 2013 - 14 DY. CIT (EXEMPTION), CIRCLE BHOPAL. VS. RATNAPURI SHRI GURUKRIPA SHIKSHA PRASAR AVAM SEWA SAMITI, 59, GOPAL DHAM, KASARA BAZAR, RATLAM . / APPELLANT / RESPONDENT . . ./ PAN: AAAAR5686C / APPELLANT BY : SHRI K.G. GOYAL, SR. DR / RESPONDENT BY : SHRI S.S.DESHPANDE, CA / DATE OF HEARING : 16 .0 7 .2018. / DATE OF PRONOUNCEMENT : 18 .0 7 .2018 RATNAPURI SHRI GURUKRIPA SHKSHA PRASAR AVAM SEWA SAMIT I - : 2 : - / O R D E R PER KUL BHARAT, J.M. : APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF COMMISSIONER OF INCOME - TAX (APPEALS), UJJAIN , PERTAINING TO ASSESSMENT YEAR 2013 - 14. 2 . REV ENUE HAS RAISED FOLLOWING GROUNDS OF APPEAL : - 1 . WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. CIT(A) WAS JUSTIFIED IN ALLOWING CARRY FORWARD OF CLAIMED LOSS OF RS. 84,01,839/ - OF ASSESSEE WHEN THE ASSESSING OFFICER RIGHTLY ASSESSED THE INC OME AT NIL AS SHOWN BY THE ASSESSEE IN THE RETURN OF INCOME FOR THE YEAR. SUCH CLAIM IS NOT ALLOWABLE AS PER DECISION OF THE HONBLE SUPREME COURT IN GOETZE (INDIA) LIMITED VS. CIT , REPORTED IN 284 ITR 323 (S.C.) (2006). 2 . WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. CIT(A) WAS JUSTIFIED IN ACCEPTING THE CLAIMED LOSS OF RS. 84,01,839/ - ON FACT VALUE WITHOUT ASCERTAINING QUANTIFICATION THEREOF FOR THE YEAR. 3 . THE ONLY EFFECTIVE GROUND IS AGAINST ALLOWING THE CLAIM OF CARRY FORWARD OF LOSS OF RS. 84,01,839/ - . RATNAPURI SHRI GURUKRIPA SHKSHA PRASAR AVAM SEWA SAMIT I - : 3 : - 4 . BRIEFLY STATED THE FACTS OF THE CASE ARE THAT THE ASSESSEE TRUST IS DERIVING INCOME FROM RUNNING AN EDUCATIONAL INSTITUTION NAMED AS SHRI YOGINDERA SAGA INSTITUTE OF TECHNOLOGY & SCIENCE. THE RETURN OF INCOME DECLARING TOTAL LOSS OF RS. 84,01,839/ - WAS FILED ON 28.09.2013. THE ASSESSING OFFICER DISALLOWED THE CLAIM OF CARRY FORWARD OF LOSS WITHOUT ASSIGNING ANY REASON. 5 . THE LD. COUNSEL FOR THE ASSESSEE, AT THE OUT - SET , PLACED RELIANCE ON THE DECISION OF HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. GUJARATI SAMA J (REGD.), (2012 ) 349 ITR 559 (MP) , STATING THAT THE ASSESSEES CASE IS COVERED BY THIS DECISION. 6 . THE LD. DEPARTMENTAL REPRESENTATIVE SUPPORTED THE ORDER OF THE ASSESSING OFFICER. 7 . WE HAVE CAREFULLY HEARD THE RIVAL SUBMISSIONS. WE HAVE GONE THROUGH THE DECISION OF THE HON BLE JURISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. GUJARATI RATNAPURI SHRI GURUKRIPA SHKSHA PRASAR AVAM SEWA SAMIT I - : 4 : - SAMAJ (REGD), (2012 ) 349 ITR 559 (MP) , WHEREIN THE HON BLE HIGH COURT, INDORE BENCH , HELD THAT THE TRUST WOULD BE ENTITLED TO CARRY FORWARD OF EXCESS EXPENDITURE OVER INCOME OF SUBSEQUENT YEARS , AND FACTS BEING SAME, THE DECISION WOULD BE APPLICABLE TO THE ASSESSEE . 8 . IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. THE ORDER PRONOU NCED IN THE OPEN COURT ON 1 8 .07 .201 8 . S D / - ( ) (MANISH BORAD) ACCOUNTANT MEMBER S D / - ( ) (KUL BHARAT) JUDICIAL MEMBER INDORE; DATED : 1 8 /0 7 /2018 CPU/SPS COPY TO: ASSESSEE/AO/PR. CIT/ CIT (A)/ITAT (DR)/GUARD FILE. RATNAPURI SHRI GURUKRIPA SHKSHA PRASAR AVAM SEWA SAMIT I - : 5 : - BY ORDER PRIVATE SECRETARY/DDO, INDORE