2012 (6) TMI 802

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..... MBER For the Appellant : Ms.Anupama Shukla, IRS, CIT For the Respondents : Shri M.P.Senthil Kumar, Advocate O R D E R PER Dr.O.K.NARAYANAN, VICE PRESIDENT These three appeals are filed by the Revenue for the assessment year 2007-08 against the orders of the Commissioner of Income-tax(Appeals)-I at Chennai, dated 22-12-2011, passed in the cases of respondent-assessees, herein. The appeals .....

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..... hrough their order dated 30-9-2010 in assessees' own group cases. Relying on the judgment of the Hon'ble Madras High Court, rendered in the case of Velayudhaswamy Spinning Mills, the Tribunal held that once the set off of depreciation/loss is taken place in earlier year against the other income of the assessee, the Revenue cannot rework the set off amount and bring it notionally. As held by the Tr .....

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