LATHA S. NAIR Vs. COMMISSIONER OF INCOME-TAX

JUDGEMENT

(1.) This tax reference arises from the order of the Tribunal disposing of the appeal for the year 1990-91. Since the income-tax reference and the original petition pertain to the same matter, we heard the matter together and proceed to dispose of both the cases through this common judgment.

(2.) This income-tax reference arises from the order of the Income-tax Appellate Tribunal, Cochin Bench, disposing of the appeal filed by the Revenue. Even though cross-objection was filed by the assessee, the same was not noticed by the Tribunal. Consequently, the appeal got disposed of independently, without reference to the assessee s cross-objection. Later, the cross-objection was taken up and the Tribunal dismissed this as infructuous because the appeal arising from the same order of the Deputy Commissioner of Income-tax (Appeals) was already disposed of, after hearing both sides. In the appeal, the assessee has raised the question pertaining to disallowance of loss confirmed by the Tribunal and denial of depreciation which was also confirmed by the Tribunal. In the original petition, the prayer is for restoring the cross-objection along with appeal filed before the Tribunal and to decide the matter afresh.

(3.) We have heard the learned Counsel appearing for the assessee and the senior standing counsel for the respondent.