2017 (4) TMI 65

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....ppellate Tribunal, Lucknow Bench 'B', Lucknow (hereinafter referred to the "Tribunal") in Income Tax Appeals No. 563/LKW/2015 and 564/LKW/2015, respectively, and relates to Assessment Years 2007-08 and 2008-09. 3. Though the appellant has formulated several substantial questions of law but at the time of argument Sri Pradeep Agrawal, learned counsel for appellant, could not dispute that there is only one substantial question of law, which need be adjudicated in both these appeals. It reads as under: "Whether power under Section 154 of Act, 1961 was validly exercised by Assessing Authority and there was any error apparent on the face of record or it is a case of change of opinion or review of entire assessment order?" ....

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.... (iii) Contribution to pension, as discussed in para 6 above 10,01,685         6,24,34,821       32,44,52,073 Less: Depreciation allowed   5,35,02,111       27,09,49,962 Less: Deduction u/s 80  IA   4,67,87,899       22,41,62,063 Less: Unabsorbed losses, as discussed in para 7 above   7,60,31,636       14,81,30,427       Or       14,81,30,430   Assessment Year: 2008­09 Net income as per P&L   Rs.1....