- (1.) This appeal filed by the department relates to the assessment year 1979-80. The two effective grounds raised in this appeal are as follows : 1. That, on the facts and in the circumstances of the case, the learned Commissioner (Appeals) has erred in law in directing the ITO to carry forward the business loss computed for the assessment year 1979-80. 2. That the learned Commissioner (Appeals) has erred in not applying the provisions of section 139(3) of the Income-tax Act, 1961.
(2.) For the assessment year 1979-80, the assessment submitted Form No. 6 of 29-6-1979 and sought extension of time for filing the return up to 31-12-1979. The return was filed by the assessee on 31-12-1979 claiming loss of Rs. 1,08,69,070. The ITO vide his order dated 8-9-1982 computed the business loss at Rs. 1,01,33,687 but did not pass any order for carry forward of the business loss computed by him.
(3.) On appeal, the Commissioner (Appeals), following the decision of the Calcutta High Court in the case of Presidency Medical Centre (P.) Ltd. v. CIT, 1977 108 ITR 838, directed the ITO to carry forward the business loss computed by him. Aggrieved, the department has come up in appeal before the Tribunal.;