In The Case Of Cit v. Institution Of Banking Personnel, (2003) 131

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1689 OF 2016 Commissioner of Income Tax (Exemptions) .. Appellant v/s. His Holiness Dr. Syedna Taher Saifuddin Memorial Foundation .. Respondent Mr. Charanjeet Chanderpal a/w Ms. Pragya Chandra for the appellant Mr. Firoze Andhyarujina, Senior Counsel a/w Mr. ManeckAndhyarujina, Mr. Sameer Dalal for the respondent CORAM : AKIL KURESHI & M.S. SANKLECHA, J.J. P.C. DATED : 4[th] FEBRUARY, 2019 1.Following question was presented at the time of argument :- (i)Whether on the facts and in the circumstances of the caseand in law, the Tribunal erred in allowing the appeal of theassessee on account of disallowing depreciation on fixed assets forA.Y. 2008-09 and carry forward loss ? 2.It is an undisputed position that identical issue came up forconsideration before the Supreme Court in the case of Rajasthan and Gujarati Charitable Foundation, Poona, (2018) 402 ITR 441. In the said decision, the Supreme Court had upheld the judgment of this Court in the case of CIT Vs. Institution of Banking Personnel, (2003) 131 Taxman, 386. 3.In that view of the matter, no question of law arises. 4.The tax appeal is dismissed. (M.S. SANKLECHA, J.) (AKIL KURESHI, J.)