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2002 (10) TMI 20 - HC - Income TaxWhether the Appellate Tribunal was justified in holding that the interest income from securities derived by the appellant for the assessment year 1993-94 cannot be set off against the carried forward business losses of the earlier years. - it would appear that sufficient time was given to the appellant to produce the compilation of the details regarding the nature of the securities, etc., but the same was not availed of. Having regard to the fact that the Tribunal had to decide the appeal against the assessee only because of the lapses on the part of the appellant which led the appellant to approach this court for relief and the valuable time of this court was taken for the disposal of the appeal in the manner done, we are of the view that such lapses on the part of the public sector undertakings cannot be allowed to go unnoticed.
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