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The HC dismissed the appeal, holding that no substantial question of law arose from the ITAT's order. The ITAT had allowed the assessee's claim for benefits u/ss 11 and 12, and for carrying forward losses for 7 assessment years. The HC found that the appellant had merely disputed factual findings under the guise of substantial questions of law, which is impermissible. The ITAT's order was well-reasoned, without any perversity, after considering all grounds raised by the appellant.
The HC dismissed the appeal, holding that no substantial question of law arose from the ITAT's order. The ITAT had allowed the assessee's claim for benefits u/ss 11 and 12, and for carrying forward losses for 7 assessment years. The HC found that the appellant had merely disputed factual findings under the guise of substantial questions of law, which is impermissible. The ITAT's order was well-reasoned, without any perversity, after considering all grounds raised by the appellant.
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