https://www.taxtmi.com/caselaws?id=60491 The Tribunal ruled in favor of the assessee, holding that despite the application of Section 115J of the Income-tax Act, the right to carry forward and set off unabsorbed losses and allowances from previous years remained intact. The Tribunal emphasized that the legal fiction created by Section 115J did not extend to nullifying the carry forward provisions, as explicitly preserved under Section 115J(2). The decision directed the Income-tax Officer to allow the set off of unabsorbed losses and allowances claimed by the assessee, with any arithmetical errors to be corrected. en-us Wed, 31 May 1995 00:00:00 +0530 Wed, 05 Jan 2011 15:43:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60491 The Tribunal ruled in favor of the assessee, holding that despite the application of Section 115J of the Income-tax Act, the right to carry forward and set off unabsorbed losses and allowances from previous years remained intact. The Tribunal emphasized that the legal fiction created by Section 115J did not extend to nullifying the carry forward provisions, as explicitly preserved under Section 115J(2). The decision directed the Income-tax Officer to allow the set off of unabsorbed losses and allowances claimed by the assessee, with any arithmetical errors to be corrected. Case-Laws Income Tax Wed, 31 May 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60491