- (1.) We have heard learned counsel. We find no merit in the appeal. The precise question to be answered as formulated in the judgment and order under appeal - HMT Bearings Ltd. V/s. CIT, 1988 173 ITR(AP) 597, is whether a return filed and accepted in pursuance of an order made u/s. 146, particularly on the ground mentioned in cl. (i) of sub-sec. (1) thereof, can be treated as a return filed u/s. 139 for the purpose of Sec. 80; if it is, the losses can be carried forward; if it is not, the losses will not be allowed to be carried forward. The High Court has rightly held that where a best judgment assessment is set aside u/s. 146 on the Income-tax Officer being satisfied that the assessee was prevented by sufficient cause from making a return required under sub-sec. (2) of Sec. 139, he naturally has to receive the return filed along with the application u/s. 146 or within such time as he may specify. Such return would then be a return filed u/s. 139 for the purpose of Sec. 80 as it then stood. In our view, this conclusion is correct and it requires no interference by this Court.
(2.) The appeal is dismissed, with no order as to costs.;