1997 (11) TMI 4

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ng that the assessee is entitled to have the loss carried forward - Question whether Tribunal was justified in allowing carry forward of loss for two years are question of law and had to be referred. - - - - - Dated:- 7-11-1997 - S. P. BHARUCHA. and V. N. KHARE. JUDGMENT Delay condoned. Special leave granted. The notice upon the SLP stated that the matter might be disposed of at the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... in law in holding that the assessee is entitled to have the loss carried forward? 3. Whether, on the facts and in the circumstances of the case and since the Assessing Officer had extended time only up to September 30, 1986, and return filed on October 10, 1986, being one within the further extension of time applied for by the assessee (and on which no order was passed by the officer), the Trib .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e case, does the decision of the Supreme Court in CIT v. Manmohan Das [1966] 59 ITR 699, relied on by the Tribunal have application to the facts of the case?" By the order under appeal, the High Court rejected the reference. We are inclined to agree with learned counsel for the appellant that the provision of law to be applied is different for the two assessment years and that the facts need t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X