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Judgment
The counsel for the respondent has made appearance on advance notice. Keeping in view the short nature of the grievances which we are inclined to entertain for the present and the manner in which we propose to dispose of this petition, we have heard finally the learned counsels for the parties. Rule DB.
The principal grievance of the petitioner is that his petition u/s 119 of the income tax Act, 1961 (�the Act�) dated 27-4-1995 is pending with the CBDT and has not been disposed of so far. Challenge has also been laid to the vires of section 80 of the Act to the extent to which they deny the carry forward of loss to the assessee in the case of belated returns. Having heard the learned counsels for the parties we are satisfied that the present one is a fit case where the CBDT should have disposed of the petition filed by the petitioner by a speaking order.
The petition is, therefore, partly allowed. Let the CBDT hear the petitioner on his petition dated 27-4-1995 within six weeks from today and dispose it of by a speaking order. A copy of the order shall be made available to the petitioner.
In view of the abovesaid relief having been allowed to the petitioner, the petitioner gives up challenge to the vires of section 80 reserving liberty to raise the same in the event of an occasion arising for the purpose. CW and CM disposed of.