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TMI Blog2015 (8) TMI 1462X X X X Extracts X X X X X X X X Extracts X X X X ..... -8-2015 - SHRI H.S. SIDHU, JUDICIAL MEMBER For the Appellant : Shri V. Raja Kumar, Adv. For the Respondent : Shri Robin Rawal, Sr. DR ORDER These appeals have been filed by the different assessee against the separate orders passed by the Ld. CIT(A) pertaining to relevant assessment years 2009-10 2008-09 respectively. Since the issues involved in both the appeals are common and identical, hence, we are disposing of the same by this consolidated order for the sake of convenience, by dealing with ITA No. 4056/Del/2014 (AY 2009-10). 2. The following grounds have been raised in ITA No. 4056/Del/2014 (AY 2009-10):- 1. That the Ld. CIT(A) has erred on facts and law in disallowing carry forward of excess capital expend ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. CIT(A) being arbitrary and illegal be quashed or modified suitably. 4. Briefly stated the facts of the case are that the assessee is a society, running several educational institutions. The objects of the assessee s trust are primarily in field of education. The return of income for the current year was filed on 30.09.2009 declaring a loss of ₹ 48,00,215/-. The assessment was taken up for scrutiny and assessment u/s 143(3) of the Act was completed by order dated 27.12.2011. The Assessing Officer denied the benefit of carry forward of loss claimed. The AO was of the view, the loss claimed by the assessee was not based on normal commercial principles of accounting. Moreover, various expenses of capital nature had been claimed dedu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssions and perused the material on record. I find that the Assessing Officer was of the view the loss suffered during the year was on account of capital expenditure and therefore loss cannot allowed to be carried forward. This issue according to me is no longer res integra. I further find that the Tribunal in assessee s own case for the AY 2005-06 (Supra) by following the judgment of the Hon ble Bombay High Court in the case of CIT Vs. Institute of Banking (reported in 264 ITR 110 (Bom.) ) has decided the issue in favour of the assessee. The relevant finding of the coordinate Bench order reads as follows:- 4. We have duly considered the rival contention and gone through the record carefully. Learned CIT(A) while permitting the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n adjustment of expenses incurred by the trust for charitable religious purpose in the earlier years against the income earned by the trust in the subsequent year will have to be regarded as application of the income of the trust for charitable and religious purpose. The learned CIT(A) has followed this decision apart from others referred above. The order of the CIT(A) in three assessment years have been accepted by the revenue. In this year, the learned CIT(A) has simply based his decision on the finding given in earlier assessment years. Keeping in view the principle of consistency, we do not see any reason to interfere in the order of learned CIT(A). In view of the above discussion, the appeal of the revenue is dismissed. 6. In result ..... X X X X Extracts X X X X X X X X Extracts X X X X
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