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2016 (10) TMI 980 - HC - Income TaxQuantification of the losses - Held that:- The Tribunal while passing the impugned order has made an error, which is apparent on the face of the record because the Tribunal has accepted these losses to the extent of 10% for the previous years i.e. 1989-90. The order passed by the Tribunal for the assessment year-1989-90 is on record of this case at page 169 and in paragraph 20 thereof a chart has been reproduced, which shows that assessee had claimed a loss at the rate of 5.58% and 14.42%. In addition of the allowances made towards losses come to 17.9%. From this very paragraph it is clear that contention of the assessee that it was confined to 10% is correct. It was more than 10%. The matter requires reconsideration by the Tribunal on the quantification of the losses.
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