TMI Blog2001 (4) TMI 67X X X X Extracts X X X X X X X X Extracts X X X X ..... o refer the following question, set out at page 2 of the statement of case, for our opinion: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in confirming the allowance of the carry forward and set off of the earlier year's losses from tea growing and manufacturing business against the income from service charges received during the year ?" In com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing. During the accounting year, therefore, the assessee received only service charges on account of services rendered to other companies in the matter of tea cultivation. The assessee-company, therefore, claimed set off of the business losses incurred while it was running the tea gardens against the income by way of service charges received in the accounting year relevant to the assessment years ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to be set off against the business of the current assessment year and in appeal before the Tribunal, the Tribunal has confirmed the view taken by the Commissioner of Income-tax (Appeals) and also followed the decisions of the Supreme Court in the case of Hooghly Trust (Pvt.) Ltd. v. CIT [1969] 73 ITR 685 and B. R. Ltd. v. V. P. Gupta, CIT [1978] 113 ITR 647. None appeared for the assessee. Hear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se in hand the facts are not in dispute that the assessee has suffered a loss while running the tea garden before the tea garden was taken over by the Government of West Bengal and thereafter, received the income on account of services rendered by the assessee to other companies in the matter of tea cultivation, In the case in hand also the management is common and running the tea garden and rende ..... X X X X Extracts X X X X X X X X Extracts X X X X
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