COMMISSIONER OF INCOME TAX Vs. SOORA SUBRAMANIAN

JUDGEMENT

(1.) THE order of the Tribunal dt. 8th Nov., 2005 made in IT(SS)A No. 228/Mad/2003 on the file of the Tribunal, 'D' Bench, Chennai relating to the period 1st April, 1985 to 9th Nov., 1995 is put in issue in this appeal by the Revenue by formulating the following questions of law:

(2.) WHETHER in the facts and circumstances of the case, the losses that are not permitted to be carried forward on account of delayed filing of return, can be treated as undisclosed and set off against undisclosed income under Chapter XIV -B of the Act?

(3.) ON the reading of the order of the Tribunal, it is clear that the solitary issue raised before it was relating to the question as to whether set off of capital issue (sic -loss) from sale of shares against the long -term capital gain, can be rectified by invoking the provisions of Section 154 of the IT Act, 1961?