2019 (8) TMI 801

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....54 of IT Act without appreciating the full facts and circumstances of the case. 2. That the CIT(Appeals) Ajmer not considered the original assessment order passed on 29.12.11 u/s 143(3) of IT Act for 2009-10 and considered the order passed u/s 263 of IT Act which is quite wrong and unjustified because of passed in pursuance to 263 order and not applying his mind whereas the order passed u/s 143(3) dated 29.12.2011 was conscious order passed after application of mind and cannot be rectified after the expiry of four yea i.e. 31.03.2016. 3. That the order of both the lower authorities are bad in law." 2. None has appeared on behalf of the assessee despite the repeated notices were issued through RPAD. The assessee has file....

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....e was loss for the year under consideration also. The AO then passed the order dated 07.03.2017 whereby the losses to be carried forward were modified to Rs. 4,13,31,557/- as against Rs. 5,43,34,290/- in the original assessment. The assessee challenged the said order of the AO passed u/s 154 of the Act before the ld. CIT(A) but the ld. CIT(A) dismissed the appeal of the assessee by holding that the order passed by the AO is valid in accordance with the provisions of law. 3. In the written submissions the assessee challenged the order passed U/s 154 of the Act on the ground of limitation and contended that the limitation for rectification carried out U/s 154 of the Act reckons from the original order U/s 143(3) of the Act on 29.11.2011 an....

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....under consideration and the assessment completed by the AO for the year under consideration is also at loss therefore, there will be no changed in the tax liability of the assessee. In any case the carry forward of losses for the assessment year 2008- 09 are to be considered only in the year when the assessee reports positive income and the said loss brought forward from the earlier years is claimed to be set off against the profit of the year in future. Accordingly, we do not find any substance or merits in the objection raised by the assessee against the impugned order passed U/s 154 of the Ac by the AO. The ld. CIT(A) has considered this issued in para 4.2 is as under:- "4.2 I have gone through the order, statement of fact....