If the appeal has no effect on tax liability its liable to be dismissed

Last updated: 14 May 2013

Court :
INCOME TAX APPELLATE TRIBUNAL

Brief :
At the time of hearing before us, it was stated by the learned counsel that in both the years, despite huge additions, the assessed income is loss. That the set off of this loss has never been claimed in the subsequent years because in the subsequent year also, there was a loss and ultimately, the company is closed, therefore, there is no chance of claim of set off of loss by the assessee. Even otherwise, the carry forward of loss has already become barred by limitation. The above statement is supported by a chart furnished by the assessee giving the details of year-wise loss assessed/returned in these two years as well as in all the subsequent years up to AY 2004-05. From this chart, it is evident that even in all the subsequent years, the income returned was loss and no set off of loss determined in this year was claimed. It was also stated by him that subsequently the company is closed and, therefore, no return is filed.

Citation :
Assistant Commissioner of Income Tax, Circle-16(1), New Delhi. (Appellant) Vs. M/s T.V. India Limited, 7th Floor, H.T.House, 18-20, K.G.Marg,New Delhi.PAN: AAACT2010Q. (Respondent)M/s T.V. India Limited,1, Asia House, K.G.Marg, New Delhi – 110 001. PAN: AAACT2010Q. (Appellant) Vs. Additional Commissioner of Income Tax, Special Range-5,New Delhi. (Respondent)