1995 (7) TMI 40

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....PADIA J. ---- The petitioner was engaged in production of cinema feature films. The petitioner filed returns of losses in respect of the assessment years 1977-78 up to 1982-83. Pursuant to the said returns filed by the petitioner, in respect of the previous year ending on June 30, 1981, for the assessment year 1982-83, the Income-tax Officer, after considering the said return, passed an order on M....

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....eceived on February 26, 1983. The petitioner filed his loss return for the assessment year 1981-82 on February 15, 1984, i.e., within the time prescribed under section 139(4). Against the income of Rs. 2,91,645 in respect of the assessment year 1982-83, the petitioner claims, inter alia, determination of the petitioner's losses for the assessment years 1980-81 and 1981-82 after hearing the petitio....

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....tuted proceedings under section 147 in the meanwhile. In the present case, we have seen from the record that the petitioner filed returns indicating losses well within the time prescribed under section 139(4). It is contended on behalf of the respondents that the petitioner filed his returns under section 139(4) after issuance of notice under section 148 and in the circumstances, the petitioner wa....

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....he Assistant Commissioner which was dismissed. The petitioner did not pursue the matter further. The petitioner did not prefer further appeal which was available to him in law and, therefore, the order of the Income-tax Officer has attained finality in respect of the assessment year 1979-80. In the circumstances, it is not possible to disturb the order passed by the Income-tax Officer in respect o....