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TMI Blog2012 (5) TMI 443X X X X Extracts X X X X X X X X Extracts X X X X ..... sses be set off against the current year income and the intimation as well as the rectification order be amended and the demand be vacated accordingly. 3. As per the facts and circumstances of the case and as per the provisions of law, the assessee has been put to unjustified inconvenience by resorting to appeals at various levels. Iit is prayed that exemplary cost should be awarded in terms of subsection (2B) of section 254 of Income-tax Act, 1961 for forcing the assessee to file this appeal." 2. Ground Nos. 1 and 2 - After hearing both the parties we find that the assessee had filed its return through electronic media in which the income of Rs. 9,53,75,262/- was declared. However, there were carry forwarded losses of Rs. 12, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this extent out of total carry forward losses of Rs. 12,43,94,853/-. In this regard he referred to page 16 of paper book which is schedule of losses carried over to future years. The schedule clearly shows that the total losses were Rs. 12,43,94,853/- out of which losses amounting to Rs. 9,53,75,262/- was set off during the year and the balance loss of Rs. 2,90,19,591/- was carry forwarded. He referred to page 24 which is a copy of the intimation u/s 143(1) of the Act and pointed out that the first Column which reads - as provided by tax payer in return of income clearly shows the loss of previous year adjusted was at Rs. 12,43,94,853/- which clearly shows that the assessee had made a claim of loss and therefore, the Assessing Officer and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agree with the findings of the ld. CIT(A) that set off of losses cannot be a matter of rectification in view of the judgment of Hon'ble Gujarat High Court in case of CIT v. Chaltan Vibhag Udyog Khand Sahakari Mandli Ltd.,282 ITR 385. In that case the issue was regarding rectification of priority of carry forwarded items i.e. of deduction of carry forward losses, current development rebate etc. In the background of that decision it was held as under: "that the question of the order of priority amongst different items like carry forward loss business of earlier years, unabsorbed development rebate of earlier years, etc., was not free from doubt. The action u/s 154 of the Act could not be sustained in the absence of any mistake apparent from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eard the rival submissions carefully and agree with the ld. DR for the revenue that the orders have been passed while performing the statutory duties by the Assessing Officer and therefore, it is not a fit case for levy of cost. The appellate authorities normally express their judicial opinion and therefore, opinion expressed by the ld. CIT(A) in this case also remains only a judicial opinion. His judicial opinion may not be correct but that does not call for levy of cost. Hence we decline to accept the request that the cost should be imposed on the revenue. 11. However, we would like to take this opportunity to bring to the notice of CBDT that after the procedure of Central processing of returns, many issues have come before various forum ..... X X X X Extracts X X X X X X X X Extracts X X X X
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