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        Income Tax

        Section 76 - Losses of unregistered firms assessed as registered firms (Omitted)

        Income-tax Act, 1961
        Part B
        Set off, or carry forward and set off

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        Treatment of unregistered firm losses as registered firm affects loss set off and carry forward under income tax. Losses of unregistered firms assessed under the statutory assessment clause are to be dealt with as if the firm were registered, meaning their assessment year losses are subject to the same set off and carry forward rules applicable to registered firms.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Treatment of unregistered firm losses as registered firm affects loss set off and carry forward under income tax.

                              Losses of unregistered firms assessed under the statutory assessment clause are to be dealt with as if the firm were registered, meaning their assessment year losses are subject to the same set off and carry forward rules applicable to registered firms.


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