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TMI Blog2015 (9) TMI 1736X X X X Extracts X X X X X X X X Extracts X X X X ..... of section 2(15) ? - HELD THAT:- Issue is covered by the decision of Hon ble Jurisdictional High Court in the assessee s own case [ 2012 (4) TMI 214 - BOMBAY HIGH COURT] . Further the co-ordinate bench of Tribunal has also followed the said decision in order to decide an identical issue in favour of the assessee in assessment years 2007-08, 2009-10 [ 2015 (3) TMI 1419 - ITAT MUMBAI] 2008-09 [ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i Haresh P Shah ORDER Per LALITKUMAR: The Revenue has filed this appeal challenging the order dated 13.2.2015 passed by the ld. CIT(A)-7, Mumbai and it relates to the assessment year 2010-11. 2. The effective grounds of appeal urged by the Revenue read as under: 1. Whether on the facts and circumstances of the case and in law, the ld. CIT(A) was right in holding that the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of such claim 3. We heard the parties and perused the records. The assessee is a trust, formed with the objective of encouraging physical education by training and coaching in various sports disciplines. The trust was registered u/s 12A of the Act by the Director of Income Tax (Exemption), Mumbai. It is also registered with Charity Commissioner, Mumbai. The AO, by following the assessment or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssment year 2003-04 while adjudicating the appeals filed by the assessee for the assessment years 2007-08 to 2009-10. Accordingly, the ld. CIT(A) held that the assessee is a Charitable Institution and its income has to be computed u/s 11 to 13 of the Act. The ld. CIT(A) also held that the assessee is entitled to carry forward and claim set off of the deficit (Excess application of income made) ari ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the case of the AO that the assessee is hit by the proviso to sec. 2(15) of the Act. Hence, we do not find any infirmity in the order of ld. CIT(A) with regard to the first issue. 6. With regard to the second issue, we notice that the ld. CIT(A) has followed the decision rendered by the Hon ble Jurisdictional High Court in the case of CIT Vs. Institute of Banking Personnel Selection (supra). ..... X X X X Extracts X X X X X X X X Extracts X X X X
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