2006 (10) TMI 141

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....pondent. JUDGMENT The judgment of the court was delivered by Rajesh Bindal J.- These appeals arise from a composite order dated January 19, 2004, passed by the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar (for short, "the Tribunal"), in ITA Nos. 531 to 534 (ASR.) 1998, for the assessment years 1992-93 to 1995-96. 2. At the time of admission of appeals, the following substant....

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....uty Commissioner of Income-tax (Appeals) (for short, "the DCIT(A)"), dated September 22, 1993, given for the assessment year 1991-92, where unabsorbed depreciation of Rs. 4,57,629, was quantified to be carried forward to the next year. Even before the appeal effect was given to the order of the Deputy Commissioner of Income-tax (Appeals) for the year 1991-92 on November 9, 1993, the return of the ....

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.... reversed the order of the Com-missioner of Income-tax (Appeals). 4. The short submission made by learned counsel for the appellant in the present case is that at the time when the return for the assessment year 1992-93 was filed, as the loss to be carried forward for the assessment year had not been determined there was no possibility of the assessee's claiming carry forward of unabsorbed depr....

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.... for rectification was that the return having been processed under section 143(1)(a) of the Act and the assessee having not claimed the benefit at the initial stage will not be permitted to claim the benefit thereof at this stage. 5. Having heard learned counsel for the parties, we find substance in the submission of learned counsel for the appellant. Once the claim of the assessee for the prev....