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TMI Blog2021 (2) TMI 614X X X X Extracts X X X X X X X X Extracts X X X X ..... J.B.PARDIWALA 1 This Tax Appeal under Section 260A of the Income Tax Act, 1961 (for short, 'the Act, 1961') is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal, 'D' Bench, Ahmedabad dated 20th February 2020 in the ITA No.2433/Ahd/2017 for the A.Y. 201415. 2 The Revenue has proposed the following questions of law for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring the merit of the issue?" (C) Whether on the facts and circumstances of the case and in law, the Hon'ble Tribunal was justified giving benefit in accumulation @15% of Rs. 9,19,94,580/- u/s. 11(1)(a) of the Act and exemption of Rs. 10,32,30,356/- claimed u/s. 11(2) of the Act without appreciating the fact that once the proviso of Section 2(15) cannot be allowed further without considering ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unal was justified in allowing deemed application of Rs. 6,77,02,219/- against its future income in absence of any express provision in the Act regarding the same? (G) Whether on the facts and circumstances of the case and in law, the Hon'ble Tribunal is correct in allowing the claim of exemptions without appreciating that the SLP has been filed on the issue of Section 2(15) in the case of A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ard Ms. Mauna Bhatt, the learned Senior Standing Counsel appearing for the Revenue.
4 All the questions of law referred to above and proposed by the Revenue stand squarely covered by the decision of this Court in the case of Ahmedabad Urban Development Authority vs. ACIT reported in 396 ITR 323 (Guj).
5 In view of the aforesaid, this Tax Appeal fails and is hereby dismissed. X X X X Extracts X X X X X X X X Extracts X X X X
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