1995 (9) TMI 2

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....me-tax Act, 1961, only with respect to question Nos. 2, 3 and 4, which read thus (see [19831]143 ITR 863, 864) : "2. Whether, on the facts and in the circumstances of the case, the finding of the Tribunal that in applying section 79 of the Act, only the business loss should be taken into account and not the unabsorbed depre ciation or unabsorbed development rebate, is erroneous in law ? 3. W....

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....ied forward and set off against the income of the said previous year ?" Mr. J. Ramamurthy, learned senior counsel for the Revenue states fairly that so far as questions Nos. 3 and 4 are concerned, they are concluded against the Revenue by the decision of this court in CIT v. Italindia Cotton Co. P. Ltd. [1988] 174 ITR 160. The said decision in fact expressly approves the decision now under appe....