1991 (11) TMI 5

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..... Income-tax Act, 1961, by the Commissioner of Income-tax, Vidarbha, Nagpur, requiring the Tribunal to draw up a statement of case and to refer the following question said to be of law to this court, under section 256(1) of the Act : " Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in holding that unabsorbed depreciation in the hands of .....

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..... The Income-tax Officer did not allow deduction in respect of unabsorbed depreciation in the hands of the partners pertaining to the assessment year 1976-77. The assessee thereafter filed an application under section 154 of the Income-tax Act contending that the unabsorbed depreciation in the hands of the partners for the assessment year 1976-77 amounting to Rs. 1,97,483 should be adjusted against .....

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..... n had been filed before the Supreme Court against the said judgment. We have heard Shri Chandurkar, learned standing counsel for the Department. He fairly brought to our notice a recent decision of the Supreme Court in the case of Garden Silk Weaving Factory v. CIT [1991] 189 ITR 512 recording approval to the aforesaid decision. Under the circumstances, we see no reason to entertain this applica .....

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