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2005 (4) TMI 18 - HC - Income TaxCarry forward of business loss - "1. Whether ITAT was legally correct in directing the Assessing Officer to allow carry forward of business loss in the assessment year 1988-89 in contravention of the provisions of sections 80 and 139(3) in this regard?" - Allahabad High Court in the case of Jan Daood and Co v. ITO, a case which arose in writ jurisdiction in the backdrop of a prayer for extension of time for furnishing the return and for continuance of registration of a firm, it was held that when the Income-tax Officer had not communicated any order to the firm. On receipt of application for further extension, the assessee can well have presumed under the belief that its request for extension of time for furnishing the return had been granted and since the Commissioner of Income-tax had not applied his mind to such relevant aspect of the matter, the Commissioner of Income-tax refusing such manifest error of law was quashed. For the reasons stated above, the question referred to us, is answered in the affirmative in favour of the assessee and against the Department
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