https://www.taxtmi.com/caselaws?id=58396 The Tribunal held that the Income Tax Officer (ITO) was not required to explicitly direct the carry-forward of determined losses for adjustment in succeeding years. The failure of the ITO to mention the carry-forward of losses did not affect the assessee's rights. The Tribunal emphasized that unfounded apprehensions regarding revenue authorities' compliance with statutory provisions should not be entertained. Observations made by tax authorities in one assessment year do not bind future assessments, and statutory provisions should be presumed to be followed by revenue authorities. The appeal was dismissed as there was no adverse finding against the assessee to support a valid cause of action. en-us Tue, 05 Jun 1984 00:00:00 +0530 Sat, 18 Dec 2010 17:47:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58396 The Tribunal held that the Income Tax Officer (ITO) was not required to explicitly direct the carry-forward of determined losses for adjustment in succeeding years. The failure of the ITO to mention the carry-forward of losses did not affect the assessee's rights. The Tribunal emphasized that unfounded apprehensions regarding revenue authorities' compliance with statutory provisions should not be entertained. Observations made by tax authorities in one assessment year do not bind future assessments, and statutory provisions should be presumed to be followed by revenue authorities. The appeal was dismissed as there was no adverse finding against the assessee to support a valid cause of action. Case-Laws Income Tax Tue, 05 Jun 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58396