COMMISSIONER OF INCOM TAX Vs. SHRI GUJRATISAMAJ

JUDGEMENT

(1.) This order shall govern disposal of ITA Nos.22 and 23 of 2011 as common questions of law are involved in all these appeals and they arise out of the common order.

(2.) All these appeals under section 260-A of the Income Tax Act, 1961 (for short, the Act) are against the order dated 31.01.2011 passed by the Income Tax Appellate Tribunal, Indore Bench (for short, the Tribunal) by which the Tribunal has decided I.T.A. No. 171 /Ind/2010 for the assessment year 2004-05, I.T.A. No.172/Ind/2010 for the assessment year 2005-06 and I.T.A. No. 173/Ind/2010 for the assessment year 2006-07.

(3.) Briefly stated, the respondent assessee is a charitable trust formed with the main object to run educational institutions for the benefit of public. In the course of assessment under section 143(3) of the Act the A.O. vide order dated 8.12.2006 disallowed assessee's claim for depreciation on the fixed assets. The AO also denied the claim of the assessee to carry forward deficit in the application of funds. The said order of the AO was challenged before the CIT (A). The CIT (A) vide order dated 4.01.2010 partly allowed the assessee's appeal to the extent it held that the assessee shall be entitled for claim of depreciation on the assets owned by it. About the claim to carry forward deficit, the CIT (A) affirmed the decision of the AO of not allowing the carry forward of loss. Aggrieved by the said order of the CIT (A) the Revenue and the assessee had approached the Tribunal by filing their respective appeals.