https://www.taxtmi.com/caselaws?id=63692 The tribunal ruled in favor of the Revenue, dismissing the cross-objections filed by the assessee and upholding the Income Tax Officer's decisions for the assessment years 1980-81 and 1981-82. The judgment emphasized that losses must be computed in the personal assessment of the assessee seeking carry forward and set off, even if previously determined in a partnership firm's assessment. The tribunal distinguished a precedent cited by the assessee, highlighting the significance of timely filings and individual assessments in determining eligible losses. Additionally, it clarified that issues like depreciation granted to a firm should be addressed in the firm's assessment, not the individual partner's. en-us Wed, 13 Jul 1988 00:00:00 +0530 Tue, 01 Feb 2011 13:28:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63692 The tribunal ruled in favor of the Revenue, dismissing the cross-objections filed by the assessee and upholding the Income Tax Officer's decisions for the assessment years 1980-81 and 1981-82. The judgment emphasized that losses must be computed in the personal assessment of the assessee seeking carry forward and set off, even if previously determined in a partnership firm's assessment. The tribunal distinguished a precedent cited by the assessee, highlighting the significance of timely filings and individual assessments in determining eligible losses. Additionally, it clarified that issues like depreciation granted to a firm should be addressed in the firm's assessment, not the individual partner's. Case-Laws Income Tax Wed, 13 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63692