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TMI Blog2002 (7) TMI 43X X X X Extracts X X X X X X X X Extracts X X X X ..... has referred the following question for our opinion: "Whether, the Tribunal was right in law in holding that the assessee-company was not entitled to carry forward of loss computed for the assessment year 1985-86?" The assessee is a limited company. The assessee-company claims to have made an application in Form No. 6 for extension of time on June 28, 1985, for filing the return which was due t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , learned counsel for the assessee, submits that once the application for extension of time in Form No. 6 has been submitted before the Assessing Officer on or before the due date, if that application has not been rejected and communicated to the assessee, the presumptions will be that time has been extended. Application for extension of time has not been rejected in the case in hand, the time pra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which shows that once the application is filed for extension of time and that is pending with the Income-tax Officer, it is to be presumed that time sought for in the application has been extended. The admitted facts are that the returns are due to be filed on or before June 30, 1985. On June 28, 1985, the assessee had filed the application in Form No. 6 for extension of time till September, 1985 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s are not filed on or before the due date.
In our view, the Tribunal has committed an error in disallowing the claim of the assessee holding that the returns are not filed on or before the due date.
In the result, we answer the question in the negative, i.e., in favour of the assessee and against the Revenue.
The reference so made stands disposed of accordingly. X X X X Extracts X X X X X X X X Extracts X X X X
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