AZAD BUS SERVICE Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) AT the instance of the assessee, the Tribunal has stated the case and referred the undernoted question of law on Application No. 65/(Ind) of 1989 for the assessment year 1982-83 in connection with the order passed by the Tribunal in I. T. A. No. 773/(Ind) of 1985 :

(2.) THE year of assessment is 1982-83. THE assessee has been assessed in the status of a registered firm. Unabsorbed depreciation of the firm relating to the preceding assessment years 1977-78, 1978-79, 1979-80 and 1980-81 was allocated to the partners of the assessee-firm. It was not allowed by the Income-tax Officer as set-off against the income of the preceding year 1981-82. THE order of the Income-tax Officer was confirmed by the first appellate authority. In second appeal before the Tribunal, the order was again maintained. THE assessee again claimed set-off for the assessment year 1982-83. THE assessee did not succeed in getting the set-off right up to the Tribunal. Aggrieved, the assessee filed the aforesaid application under Section 256(1) of the Income-tax Act, 1961. On that application, the Tribunal stated the case and referred the question as noted above.

(3.) IN the decision of R. J. Trivedi and Sons' case [1990] 183 ITR 420 (MP), it is held as under (at page 427) :