2011 (1) TMI 1113

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..... because they were debonded by the Development Commissioner initially on provisional basis and thereafter through final order passed on 21.10.1999 - assessee in fact was well aware of the withdrawal of the benefit by the Development Commissioner, and so much so in the income tax return filed for 1999-2000 they had not claimed the benefit of deduction under Section 10B - Appeal is dismissed - IT .....

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..... owever, for the assessment year 1999-2000, assessee filed return of loss without making any claim for deduction under Section 10B. In the absence of prior intimation in terms of Section 10B(8) the assessing officer declined the benefit of carry forward of loss claimed by the assessee. Even though first appeal was rejected, Tribunal on second appeal held that non-filing of the declaration under Sec .....

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..... led for 1999-2000 they had not claimed the benefit of deduction under Section 10B. In view of these facts, we do not think the technicality of non-compliance of Section 10B(8) should deprive the assessee from claiming the benefit of carry forward of business loss computed for that year. We therefore do not find any merit in the appeal filed against Tribunal's order. Consequently appeal is dismisse .....

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