9911796707
TMI Blog2019 (8) TMI 241X X X X Extracts X X X X X X X X Extracts X X X X ..... re any ratio in favour of the assessee in HARYANA HOTELS LTD. [ 2005 (2) TMI 63 - PUNJAB AND HARYANA HIGH COURT] . This passage from the judgment can in no way be taken to be a statement of a legal proposition that on failure to file a return under section 139(1) and 139(2) of the said Act, the claim of unabsorbed depreciation can be entertained in a section 148 proceeding. More importantly, w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 139(2) of the Income Tax Act, 1961, unabsorbed depreciation cannot be claimed in a proceeding under section 148 of the said Act. This decision has been referred to and relied upon by the tribunal. Inspite of this, Mr. Bhaumik for the applicant assessee has tried to make unnecessarily prolonged argument in this 23 years old reference application, despite warning by this Court that no su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd set off of unabsorbed depreciation which is to be notified by the Assessing Officer as in the case of unabsorbed business loss. This passage from the judgment can in no way be taken to be a statement of a legal proposition that on failure to file a return under section 139(1) and 139(2) of the said Act, the claim of unabsorbed depreciation can be entertained in a section 148 proceedi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
