1993 (11) TMI 53

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..... -tax Act, 1961, the Income-tax Appellate Tribunal has referred the following question of law to this court for its opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessee is entitled to challenge the computation of deficiency under section 80J for the earlier years of set-off ?" The assessee is a private limited company an .....

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..... assessment year only. The Income-tax Officer did not accept the contention of the assessee and allowed the assessee the set-off of deficiency on the basis of the figure determined in the proceedings for the assessment year 1976-77. The assessee appealed to the Commissioner of Income-tax (Appeals) who upheld the order of the Income-tax Officer. On further appeal to the Tribunal, the Tribunal decide .....

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..... , it could have taken appropriate remedy by way of appeal, revision, etc., against the order of assessment for the year 1976-77. Having not done so, the assessment for that year became final and the amount determined by the Income-tax Officer cannot be challenged by the assessee in the course of assessment or appeal for the subsequent year. In the subsequent year, the assessee is only entitled to .....

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