2017 (3) TMI 1740

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....ssociates for the Respondent ORDER P. C. 1. This Appeal under Section 260A of the Income Tax Act, 1961 (the Act) challenges the order dated 20th March, 2014 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order relates to Assessment Years 2008-09. 2. The Revenue has urged the following substantial question of law for our consideration: "(i) Whether on ....

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....e circumstances of the case and in law, the Tribunal was right in allowing the claim of the assessee for carry forward of the said deficit, ignoring the fact that there was no express provision in the Act permitting allowance of such claim?" 3. Regarding question no.(i): (a) The impugned order of the Tribunal dismissed the Revenue's appeal before it by following the decision of this Cour....

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....inate bench in M/s. Aditya Birla Foundation (supra). (c) In view of the above submission, question no.(i) as proposed does not give rise to any substantial question of law. Thus not entertained. 4. Regarding question no.(ii): (a) So far as question no.(ii) is concerned, we find that the impugned order of the Tribunal has followed the decision of this Court in M/s. Gem & Jewellery Exports ....