TMI Blog1990 (10) TMI 18X X X X Extracts X X X X X X X X Extracts X X X X ..... in directing the Income-tax Officer to adjust the loss from a joint venture specifically when it was not provided in the agreement that the assessee would bear the loss ? (2) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was correct in law in holding that rejection of the assessee's claim amounts to reopening the matter ? (3) Even if the answer t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Appellate Assistant Commissioner who had held, as noted by the Tribunal, that the Income-tax Officer should deal with the loss of Radhey Sham Movies in the same manner as a loss in the partnership firm. This finding was not challenged by the Department by way of a further appeal to the Tribunal. This being so, it is clear that Radhey Sham Movies was to be regarded as a joint venture and if it su ..... X X X X Extracts X X X X X X X X Extracts X X X X
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