9911796707
TMI Blog2024 (11) TMI 634X X X X Extracts X X X X X X X X Extracts X X X X ..... Ms. Gouthami Manivasagam, JCIT ORDER PER AMITABH SHUKLA, A.M : This appeal is filed by the revenue against the order bearing DIN & Order No.ITBA/NFAC/S/250/2024-25/1064629485(1) dated 03.05.2024 of the Learned Commissioner of Income Tax [herein after "CIT(A), National Faceless Appeal Center[NFAC], Delhi, for the assessment years 2015-16. Through the aforesaid appeal the assessee has challenged ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m GOI and contributions from promotors for the execution of said contract. During the course of scrutiny proceedings the assessee had requested the assessing officer of the exemption charge for transfer of its assessment proceedings to territorial assessing officer. Subsequently, the assessee resubmitted that assessment proceedings may be continued. The assessing officer vide para-4 of his order d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... While doing so, the LD. AO had taken loss as profit and loss account of Rs. 7,49,63,770/-. The Ld. AO had made additions of depreciation of 9.96 Crs app. and project fund of Rs. 28.56 lakhs as well as an ROC fees of Rs. 9 lakhs. The Ld. CIT(A) held that because in the immediately preceding assessment years i.e AY-2014-15 same facts were present and the Ld. AO had allowed to assessee exemption u/s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding AY-2014-15 as is evident from order u/s 143(3) dated 28.12.2016. Perusal of para-3 thereof also alludes that same situation qua filing of ITR-6 and treatment of assessee as a rested entity u/s 12AA existed in the said year as well. The perusal of order further shows that the assessee has been allowed exemption u/s 11. The argument of Ld. CIT(A) recording principle of consistency and applicabi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and same set of facts over different years. The Ld. DR has not been able to point out any difference in the facts of the case as they existed in comparison to AY-2014-15. Accordingly, we are of the view that the Ld. CIT(A) has taken a correct decision in granting exemption u/s 11 and no interference is required to be made to his order at this stage. Accordingly, the order of Ld. CIT(A) is sustaine ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
