9911796707
TMI Blog2010 (5) TMI 879X X X X Extracts X X X X X X X X Extracts X X X X ..... JOGINDER SINGH, JM This appeal is by the revenue against the order of the learned CIT(A) dated 26.8.2009. The first ground raised is that on the facts and in the circumstances of the case, the learned Commissioner of Income-tax (Appeals) erred in deleting the addition of ₹ 5,46,831/- made on account of disallowance of depreciation on fixed assets. The crux of arguments on behalf of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the rival submissions of ld. representatives of both sides and perused the material available on record. We have found that WDV as on 31.3.2002 was taken after reducing the sale of some assets. It is also found that the assessee was allowed depreciation for the assessment year 2002-03 wherein the amount of ₹ 68,21,554/- was worked out after claiming depreciation as on 31.3.2002. The assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nded the impugned order. 4. On perusal of record and after hearing rival submissions, we have found that the carrying forward of losses of earlier years to the subsequent years was not allowed on the plea that no proof of losses of past year was furnished by the assessee. The stand of the assessee is that returns of the previous years filed by the assessee and the losses which were already as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hey are allowed to be carried forward. Loss can be set off against income from any business. Even otherwise, the ITO is supposed to allow set off even if it is not claimed and otherwise allowable, consequently, there is no infirmity in the direction of the learned Commissioner of Income Tax (Appeals). Finally, the appeal of the revenue is dismissed. Order pronounced in open Court on 28th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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