1996 (6) TMI 22

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.... has been referred by the Income-tax Appellate Tribunal under section 256(1) of the Income-tax Act, 1961 (for short, the Act), for opinion of this court : " Whether under the facts and circumstances of the case, the Tribunal did not err in facts as well as in law in allowing the carry forward of loss for the assessment year 1984-85 even though the assessee did not file its return of income with....

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....ome-tax (Appeals). Hence, the present reference. We have heard Mr. G. K. Joshi, learned standing counsel appearing on behalf of the Revenue. None appears on behalf of the assessee. Mr. Joshi submits that this case is squarely covered by a decision of the apex court in CIT v. Kulu Valley Transport Co. P. Ltd. [1970] 77 ITR 518 and also a decision of this court in CIT v. K. C. Bezbarua, [1992]....