2016 (11) TMI 1371

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..... ace in earlier year against the other income of the assessee, the Revenue cannot rework the set off amount and bring it notionally - Held that:- Special leave petition (titled “Assistant Commissioner of Income Tax, Tirupur vs. M/s. Velayudhaswamy Spinning Mills P.Ltd [2016 (11) TMI 373 - SUPREME COURT ] and connected cases filed against the judgment of the Madras High Court has been dismissed. .....

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..... Velayudhaswamy Spinning Mills P.Ltd. and connected cases filed against the judgment of the Madras High Court has been dismissed by this Court on 05.09.2016. The present case which pertains to a contrary view expressed by the Karnataka High Court will, nevertheless, require a detailed examination as the order of the Court dismissing the special leave petition does not contain any reasons there .....

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