2017 (11) TMI 1555

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.... Ananya Kapoor and Sumit Lalchandani, Advocates JUDGMENT 1. The Revenue in this appeal under section 260A of the Income-tax Act, 1961 questions the decision of the Income-tax Appellate Tribunal ("ITAT"). 2. The Income-tax Appellate Tribunal set aside the findings of the lower authorities denying the carry forward of losses and depreciation for the assessment year 2001-02. The narrow groun....

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....est of justice to permit the carry forward of losses and depreciation. 4. Learned counsel emphasized that the rejection of the section 154 application moved by the company in the circumstances have attained finality and having regard to these facts the Income-tax Appellate Tribunal's decision is unsupportable in law. 5. The court is of the opinion that both the lower authorities did not ....