https://www.taxtmi.com/caselaws?id=60318 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s order, directing the Assessing Officer to allow the carry forward of unabsorbed losses and allowances. The Tribunal found that the Assessing Officer lacked the authority to refuse the carry forward of past losses and allowances determined in earlier assessments. The appeal filed by the revenue was dismissed, affirming the decision in favor of the assessee regarding the treatment of losses and allowances under the Income Tax Act. en-us Mon, 27 Jun 1994 00:00:00 +0530 Tue, 04 Jan 2011 16:32:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60318 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s order, directing the Assessing Officer to allow the carry forward of unabsorbed losses and allowances. The Tribunal found that the Assessing Officer lacked the authority to refuse the carry forward of past losses and allowances determined in earlier assessments. The appeal filed by the revenue was dismissed, affirming the decision in favor of the assessee regarding the treatment of losses and allowances under the Income Tax Act. Case-Laws Income Tax Mon, 27 Jun 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60318