MADRAS HOTELS ASSOCIATION Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) AT the instance of the assessec, the following question of law has been referred to us on an application filed hy it under Section 256(1) of the Income-tax Act:

(2.) THE assessment years under consideration are 1959-60 to 1963-64. As a common question of law is said to have arisen out of the order of the Tribunal, the applications for reference were consolidated and a common statement of the cases prepared.

(3.) IN so far as the years in which the assessee had sustained loss, according to their own statements, it was not even suggested that such loss has been carried forward and set off in the later years. But that question does not even arise for consideration in the reference and rightly, therefore, the Tribunal did not go into the question as to whether such losses are liable to be set off in later years.