1993 (2) TMI 75

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....come-tax Act, 1961, -for the assessment year 1985-86, the following question of law has been referred to this court : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in directing the authorities to allow the benefit of carry forward of loss determined for the assessment year 1985-86 in terms of section 80 of the Income-tax Act, 1961 ? " The facts rela....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....come-tax (Appeals ) found that the assessee failed to show that the return had been filed within the time duly allowed by the Income-tax Officer. According to him, filing applications for extension of time was not sufficient. Specific order of the Income-tax Officer allowing extension of time was necessary to get the benefit of carry forward of loss. He, therefore, directed the Assessing Officer n....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....l was right in allowing the benefit of carry forward of loss. If the assessee had filed the return within the time allowed by the Income-tax Officer, the assessee would be entitled to get the benefit of carry forward of loss as determined in the assessment. In this case, four applications were made by the assessee for extension of time. The Income tax Officer neither dealt with those applications ....