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TMI Blog2015 (1) TMI 572X X X X Extracts X X X X X X X X Extracts X X X X ..... . Meena, CIT, DR ORDER PER BENCH: These are cross appeals filed by the revenue and the assessee for Assessment Year 2006-07 against the order dated 31.3.2011, passed by the Ld. CIT(A)-XXI, New Delhi, taking various grounds of appeal. 2. There were differences of opinion between the Members of the Bench on Ground No.5 of the Revenue's appeal and on Ground No.1 (i) to (iii) and Ground No.2 (i) t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e on this score 4. On the other hand, it was the opinion of the Accountant Member on this ground that the eligibility of the assessee for set off and carry forward of losses as per Section 79 of the IT Act can only be determined after verification as to whether the assessee was fulfilling the conditions for carry forward of losses or not. It was observed that this verification had not been done e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for verification of amount and only then the claim of the assessee could be allowed if found correct. 6. So far as regards the assessee's Ground Nos.2 (i) to (iii) which related to the disallowance of Rs. 8,70,00,000/- towards spares, stores and tools consumed by the assessee, it was the opinion of the Accountant Member that though he agreed with the findings of the Judicial Member that stores, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re referred for the opinion of the Third Member:- "1. Whether the issue challenging the CIT (A)'s action in allowing the assessee's claim of carried forward and set off brought forward losses and unabsorbed depreciation (Ground No.5 in the Department's Appeal in ITA No.3166/Del/2011) requires to be remitted to the Assessing Officer to examine the record maintained under the Companies Act and reco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, on the basis of documents to be submitted by the assessee, the amount of claim and to further verify as to how the claim made by the assessee regarding stores, spares and tools and that made regarding raw material purchased were inter se different." 8. Shri R.S. Syal, Accountant Member, acting as Third Member, vide order dated 29.4.2014, concurred with the opinion of the Judicial Member holdin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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