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2019 (7) TMI 301 - MADRAS HIGH COURTMerger of order passed u/s 254(2) with main order of Tribunal - set off of brought forward losses and unabsorbed depreciation - against capital gains arising from sale of a business undertaking - AO held that unabsorbed depreciation cannot be said set off as against capital gain u/s 32(2) - applicability of Section 72 - CIT(A) allowed the appeal - order of appeal was upheld bu Tribunal despite he mooved a MA stating that it has not considered adjustment of business loan against capital gain, same was allowed. against that MA tribunal filed appeal which was approved by HC in judgment reported in 2008 (3) TMI 328 - MADRAS HIGH COURT on the ground that no question of law much less a substantial question of law is involved. HELD THAT:- The Revenue cannot prosecute the present case as the order passed in the miscellaneous petition stood merged with the earlier order and the composite order being questioned before the Court and the challenge at the instance of the revenue having been rejected in 2008 (3) TMI 328 - MADRAS HIGH COURT , the present appeal should also fail. Accordingly the appeal is dismissed on the ground that there is no substantial question of law involved in the case as also for the reasons set out.
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