2016 (9) TMI 294

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..... ma Barnwal, Senior DR Assessee by : Shri Sanjay, Advocate ORDER Per G. D. Agrawal, VP The appeal by the Revenue and the cross-objection by the assessee are directed against the order of learned CIT(A)-XXIX, New Delhi dated 28th December, 2011. 2. The Revenue has raised the following ground in its appeal :- "On the facts and in the circumstances of the case, the ld.CIT(A) has erred in deleti .....

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..... Rs. 38,43,547/- as the 20% of Rs. 1,92,17,732/- (Ground no.2.2 before CIT(A) para 4). 4. That on the facts and circumstances of the case CIT(A) erred in upholding the addition of Rs. 54,09,879/- being 5% of labour charges of Rs. 10,8197,584/- (Para 6 of CIT(A) order)." 4. At the time of hearing, we have noticed that as against the declared loss of Rs. 12.44 crores, the assessed loss determine .....

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..... only of academic nature. Learned DR fairly submitted that if no set off of loss is claimed in the subsequent year, the appeal can be treated as of academic nature having no tax effect either for the assessee or for the Revenue. The assessee, vide letter dated 16th August, 2016, has submitted in writing that the assessee company has not set off the above mentioned loss incurred in assessment year .....

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