TMI Blog1994 (1) TMI 11X X X X Extracts X X X X X X X X Extracts X X X X ..... (1) of section 256 of the Income-tax Act, 1961, by order dated September 3, 1987, passed in Case No. R. A. 174/(Gau) of 1986. The reference arises out of the order of the learned Tribunal passed in Appeal No. I. T. A. 162/(Gau) of 1985 for the assessment year 1978-79. The question is as follows : " (i) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in hol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In the assessment year, the income-tax return was for Rs. 7,380 and the loss of the earlier year was sought to be carried forward, but the Income-tax Officer refused to allow the carry forward loss on the ground that the return of income for the earlier year was filed after 27 months from the due date for the filing of the return of income. It has been urged by learned counsel for the assessee t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... question referred to in that case was whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the loss determined in accordance with the provisions of the Act has to be carried forward and this question was answered in favour of the assessee holding that sub-sections (1) and (4) of section 139 are to be read together and, on being so read, the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X
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