Itxa/2652/2011 Of The Director Of Income Tax (Exem) v. Maharashtra Industrial Development Corporation (Midc)

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.2652 OF 2011 The Director of Income Tax (Exem)..Appellant.V/s.Maharashtra Industrial Development Corporation (MIDC)..Respondent. Mr. Suresh Kumar, for the Appellant.None for the Respondent. P.C:- CORAM: J.P.DEVADHAR & M.S.SANKLECHA,JJ.DATE : 20[th] MARCH, 2013. In this Appeal by the Revenue for the Assessment Year 2005-06, following question has been raised for our consideration:- Whether on the facts and in the circumstance of the case and in law, the Tribunal is right in confirming the order of CIT(A) in allowing assessee's claim to carry forward deficit of Rs.2,01,38,019/-? 2The Tribunal by the impugned order has allowed the claim of the Respondent-Assessee by following the decision of this Court in the matte of CIT v/s. Institute of Banking reported in 264 ITR 110. In that view of the matter, we see no reason to entertain the proposed question S.R.JOSHI of law. 3 Accordingly, appeal is dismissed with no order as to costs. (M.S.SANKLECHA,J.) (J.P.DEVADHAR,J.)