IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 17.06.2025 CORAM THE HON'BLE MR.K.R.SHRIRAM, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE SUNDER MOHAN TCA No.407 of 2011 M/s.Bojaraj Textile Mills Ltd, Sitalakshmi Mills Premises, Tirunagar, Madurai 625 006 : Appellant versus The Assistant Commissioner of Income Tax, Madurai : Respondent Prayer: Appeal filed against the order of the Income Tax Appellate Tribunal, Chennai Bench “B” dated 08.04.2011 in ITA No.1503/Mds/2007.

For Appellant : Mr.R.Kumar For Respondent : Mr.J.Narayanaswamy, Senior Standing Counsel JUDGMENT (Judgment of the Court was delivered by the Hon'ble Chief Justice)

The following three substantial questions of law were framed on

10 October 2011:

“1. Whether the facts and circumstances of the case, the Appellate Tribunal is right in law in justifying the reassessment proceedings initiated for alleged incorrect set off of business loss, on a different ground viz., carry forward of unabsorbed depreciation allowance?

2. Whether the Appellate