2022 (9) TMI 1454

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... at 7.5% shall be made after setting off the brought forward loss, to arrive at the total income. Therefore, the finding recorded by this Court on substantial question of law No.2 is an error apparent on the face of the record and therefore, deserves to be reviewed. Hence, the substantial question of law No.2 is answered as follows:- The Tribunal was justified in holding that the deduction .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of 7.5% of the total income ought to be computed after setting off of brought forward losses? 2. This Court while answering the above question held that the Tribunal was right in holding that the deduction computed at the rate of 7.5% of the total income ought to be computed after setting off brought forward losses. However, in paragraph No.15 of the judgment, this Court held contrarily that .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... substantial question of law No.2 is an error apparent on the face of the record and therefore, deserves to be reviewed. Hence, the substantial question of law No.2 in I.T.A.No.783/2018 is answered as follows:- The Tribunal was justified in holding that the deduction at the rate of 7.5% of the total income should be computed after setting off the brought forward loss. 4. Hence, the follo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X