SULOCHANA V. GUPTA Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) This appeal is admitted by order dtd. 01/05/2009 on the following substantial questions of law:

(2.) The appellant filed return of income for the assessment year 1997-1998 on 29/10/1997 declaring total income of Rs.4,30,556.00.

(3.) The case of the appellant was selected for scrutiny. As the appellant claimed set-off of loss of minor son amounting to Rs.7,55,041.00, the same was subject matter of scrutiny. The Assessing Officer in view of the assessment orders for the Assessment Year 1995-1996 and Assessment Year 1996-1997 where dis-allowance of loss owing to interest incurred by minor son which was claimed and the assessment order of the husband of the assessee Shri Vijaykumar D. Gupta for the Assessment Year 1995-1996 and for the Assessment Year 1996-1997 holding the same to be disallowable passed an assessment order disallowing the loss of Rs.7,55,041.00 claimed as set-off by the appellant assessee from her income on the ground that such loss of payment of interest by the minor son of the appellant assessee could not have been allowed as held in the previous two assessment years, one in the case of the husband of the appellant assessee for the Assessment Year 1995-1996 and in case of the appellant assessee for the Assessment Year 1996-1997.