2001 (2) TMI 106

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....ing question has been referred for the opinion of this court under section 256(1)of the Income-tax Act, 1961 (in short the "Act"), by the Income-tax Appellate Tribunal, Delhi Bench "C" (in short the "Tribunal") : "Whether, on the facts and in the circumstances of the case, the Tribunal is correct in law in holding that the assessee is entitled to the carry forward of the loss of Rs. 31,355 unde....

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.... 1973-74 and 1974-75 also. According to the Income-tax Officer, the ori ginal return as well as the revised return were not filed voluntarily under section 139 of the Act and, therefore, the question of any carry forward of loss did not arise. The net loss was computed at Rs. 31,355 but it was not carried forward in view of the conclusions that the return was not filed voluntarily. The assessee pr....

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..... [1970] 77 ITR 518, the Revenue appealed before the Tribunal. On consideration of the rival circumstances, the Tribunal came to hold that there was no. material to show about the service of notice under section 148 and, therefore, the returns were to be treated as voluntary returns. On being moved for a reference, the question Is set out above, has been referred for the opinion of this court. ....