1993 (11) TMI 53

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....RAF J.-By this reference under section 256(1) of the Income-tax Act, 1961, the Income-tax Appellate Tribunal has referred the following question of law to this court for its opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessee is entitled to challenge the computation of deficiency under section 80J for the earlier years o....

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....viz., 1977-78, as the actual set-off was to be made in that assessment year only. The Income-tax Officer did not accept the contention of the assessee and allowed the assessee the set-off of deficiency on the basis of the figure determined in the proceedings for the assessment year 1976-77. The assessee appealed to the Commissioner of Income-tax (Appeals) who upheld the order of the Income-tax Off....

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....putation or determination of the deficiency under section 80J, it could have taken appropriate remedy by way of appeal, revision, etc., against the order of assessment for the year 1976-77. Having not done so, the assessment for that year became final and the amount determined by the Income-tax Officer cannot be challenged by the assessee in the course of assessment or appeal for the subsequent ye....