MAX HEALTHSCRIBE LTD. Vs. INCOME-TAX OFFICER

JUDGEMENT

(1.) These two appeals arise out of the common order passed by the Tribunal in respect of the same assessee for two assessment years, where the Tribunal upheld the orders passed by the lower authorities holding that the assessee is not eligible to carry forward unabsorbed loss and depreciation relating to the assessment years when the appellant had opted out of section IDA in the said years.

(2.) The substantial questions of law that arise for our consideration are as under :

(3.) The assessee is a company engaged in medical transcription. The assessee's case is selected for scrutiny. The assessing authority passed an order under section 143(3) of the Act, treating the relief under section 10A as a deduction instead of exemption, by computing book profits under section 115JB, by not taking various deductions contemplated under Explanation to the said section, computing the relief under section 10A by restricting the benefit of carry forward business loss and depreciation.