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2004 (12) TMI 58 - HC - Income Tax"(i) Whether, when a second revised return was filed u/s 139(5) within the specified period of one year from the end of the relevant assessment order (year), the Assessing Officer is obliged to adjust the demand made u/s 143(1)(a) raised on the basis of the earlier returns and whether the Tribunal is justified in law in deciding the case without considering the legal position? (ii) Whether, in view of the fact that the petitioner had filed a revised return on January 7, 1991 claiming a loss of Rs. 2,49,05,044 and carry forward the loss of unabsorbed depreciation of Rs. 6,26,26,557, the Tribunal without deciding the question as to whether there was any reduction of loss consequent upon the filing of the second revised return on January 7, 1991 could send the matter back when there was no dispute regarding the carry forward unabsorbed depreciation?" - Both the questions are answered in the negative in favour of the assessee.
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