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Income Tax Appellate Tribunal, “C”, BENCH KOLKATA
Before: SHRI S.S. GODARA, JM &DR. A.L.SAINI, AM
आदेश / O R D E R
Per Dr. A. L. Saini:
The captioned appeal filed by the Assessee , pertaining to assessment year 2011-12 is directed against the order passed by the Commissioner of Income Tax (Appeal)-25, Kolkata, which in turn arises out of an assessment order passed by the Assessing Officer u/s 143(3) of the Income Tax Act, 1961 (in short the Act).
The grounds of appeal raised by the assessee are as follows:
1. That, on the facts and in the circumstances of the case, the Ld. Commissioner of Income-tax (Appeals) erred in concurring with assessing officer that the assessee's claim for revision of income for and from the assessment year 2002-03 St. Joan’s Educational Trust Assessment Year:2011-12 and onwards, for correct computation of the taxable income, if any at all, for the assessment year2011-12 under appeal, was not sustainable in law.
2. That, without prejudice, for computation of the correct amount of accumulation under section 11 (1 )and section 11 (2), and also the carry forward of deficit, to be allowed in assessment for the assessment year 2011-12, the Ld. Commissioner of Income Tax (Appeals) even otherwise erred in not admitting the assessee's claim to revise the computation of income for and from the assessment year 2002- 03 and onwards.
3. That, without prejudice, the Ld. Commissioner of Income-tax (Appeals) erred in not accepting the appellant - assessee's contention that for allowing correct amount of depreciation for the assessment year 2011-12, the revision of the income for and from the assessment year 2002-03, as claimed by the assessee, was in conformity with the law pronounced by the Hon'ble Supreme Court of India.
4. That the appellant craves leave to adduce additional grounds, and/or to withdraw or amend any of the foregoing grounds before, or at the time of hearing of appeal.
3. At the outset itself the ld. Counsel for the assessee submitted before the Bench that the assessee trust has made revision of income from the assessment year 2002- 03 onwards for correction of computation of taxable income. The ld counsel submitted that the Assessing Officer has not considered the assessee’s claim for revision of income for the purpose of computation of correct amount of accumulation u/s 11(1) and 11(2) and also carry forward of deficit, to be allowed, if any, in assessment for the assessment year 2011-12. Therefore, this issue should be remitted back to the file of the Assessing Officer for de novo adjudication. The ld. DR also fairly agreed with the submission of the assessee.
We have heard both the parties and perused the material available on record. We note that the assessee trust has filed revision of income from assessment year 2002-03 onwards and this revision of income ought to be considered by the Assessing Officer for computation of correct amount of accumulation u/s 11(1) and 11(2) and also to determine the carry forward of deficit. Therefore, we think it fit and appropriate to remit the issue back to the file of the Assessing Officer with St. Joan’s Educational Trust Assessment Year:2011-12 the direction to consider the assessee’s claim for revision of income and adjudicate the issue de novo, in accordance with law.
In the result, the appeal of the assessee is treated to be allowed for statistical purposes.
Order pronounced in the Court on 08.02.2019