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of <h1>Tribunal rules against Revenue's appeals on loss carry forward and speculation profit set-off</h1> The Tribunal dismissed the Revenue's appeals for the asst. yrs. 1994-95 and 1995-96, holding that the provision of s. 139(3) could not be applied as no ... - The appeals by the Revenue for the asst. yrs. 1994-95 and 1995-96 were directed against the order of the CIT(A) regarding the allowability of set off of carry forward losses to the extent of speculation profit. The Tribunal held that the provision of s. 139(3) cannot be applied as no return declaring loss was filed by the assessee for the relevant year. The Tribunal dismissed the appeals of the Revenue.
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