TMI Blog1983 (4) TMI 44X X X X Extracts X X X X X X X X Extracts X X X X ..... of carry forward and set off of the losses computed by the ITO in respect of the assessment years 1972-73 and 1973-74. (2) On the facts and in the circumstances of the case, whether the assessee is entitled to carry forward and set off the losses under the provisions of the Income-tax Act, 1961 ? (3) Whether the substantial provisions of section 139 are inherently attracted in proceedings u/s. 148 read with section 147 in view of the specific reference of section 139 in section 148, viz., 'and the provisions of this Act shall, so far as may be, apply accordingly as if the notice were notice issued under that sub-section, and in view of this legal position whether the assessee is entitled to carry forward and set off the loss in terms o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ht a reference and it is at the instance of the assessee that the aforesaid questions of law have been referred to this court for its opinion. Now, though three questions have been referred by the Tribunal, the answer to question No. 1 will be decisive. That answer will turn on the construction of s. 80 of the Act, which reads as under: " 80. Submission of return for losses.-Notwithstanding anything contained in this Chapter, no loss which has not been determined in pursuance of a return filed under section 139, shall be carried forward and set off under sub-section (1) of section 72 or sub-section (2) of section 73 or subsection (1) of section 74 or subsection (3) of section 74A From the aforesaid provision it is clear that in order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s nothing in the language of s. 80 of the Act which rendered the provisions of s. 139(2) of the Act inapplicable in the case of a return filed by an assessee to whom notice had been issued under s. 148 of the Act to file a return to enable the ITO to assess the income of the assessee as he had not been assessed till then and had failed to file a return under s. 139(1) of the Act. It is, however, not necessary to deal with this aspect of the matter any further, because, in the instant case, there is another aspect of the matter which, in our opinion, is decisive. It is admitted by the Department that returns had been filed by the assessee before the end of the period specified in cl. (b) of sub-s. (4) of s. 139 of the Act. It is true that th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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