2002 (9) TMI 82

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..... ncome against which such set off is claimed? - 2. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in vacating the directions of the Assessing Officer recorded in the assessment order to the effect that the loss shall not be carried forward?" - We, answer the question referred to us against the assessee and in favour of the Revenue. - - - - - Dated:- 24-9-2 .....

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..... g counsel for the Department, but none appeared for the assessee even though notice was served on the assessee. Standing counsel brought to our notice a decision in CIT v. Smt. Gunavathy Dharmasy [2000] 241 ITR 168 (Ker) which is rendered by this court reversing the order of the Tribunal in I.T.A. No. 198/Coch. of 1989 in the case of another partner of the very same firm of which the assessee is a .....

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..... ies below is that the question of carry forward of loss can be decided only in the succeeding year when set off was claimed. We cannot agree with this proposition also. We, therefore, answer the question referred to us against the assessee and in favour of the Revenue. A copy of this judgment under the seal of the High Court and the signature of the Registrar shall be forwarded to the Income-t .....

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