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of <h1>Bombay HC allows company to file paper return for 2022-23 to offset losses against dividend income. Hearing in Jan 2023.</h1> <h3>Tata Sons Pvt. Ltd., Mumbai Versus Deputy Commissioner of Income Tax, Central Circle-2 (3) 1 & Ors.</h3> In a judgment from the Bombay HC, the petitioner company is permitted to file a paper return for the assessment year 2022-23, allowing them to set off ... Denial of set-off of brought forward loss against the dividend income which the petitioner company earned - the same cannot be claimed if the return is filed online as the software does not permit the petitioner to make such a claim - it is prayed that the petitioner be permitted to file a return of income in physical form, considering the fact that the last date of filing the return is fixed on 30.11.2022 HELD THAT:- Issue notice to the respondents. Mr. Suresh Kumar waives service of notice on behalf of the respondents. Mr. Suresh Kumar shall file reply to the Petition within six weeks from today and a copy thereof be furnished to learned counsel for the petitioner. List the Petition on 27th January, 2023. In the meantime, there shall be ad-interim relief in terms of prayer clause (e) of the petition, which reads as under:- “that pending the hearing and final disposal of this petition, the Petitioner be permitted to file a paper return of income for the assessment year 2022-23 and treat the same filed as per law, subject to the final outcome of the Petition.” In the judgment from the Bombay High Court, the petitioner company, represented by Mr. Madhur Agarwal and others, seeks to set off brought forward losses against dividend income for the financial year 2021-22, relevant to the assessment year 2022-23. The petitioner claims that the online filing software does not allow for such a claim, prompting a request to file a physical return by the deadline of November 30, 2022. The court acknowledges a precedent with a similar order dated March 11, 2022, in Writ Petition (L) No. 2570 of 2022. The court issues a notice to the respondents, with Mr. Suresh Kumar waiving service on their behalf and agreeing to file a reply within six weeks. The petition is scheduled for a hearing on January 27, 2023. Meanwhile, the court grants ad-interim relief, allowing the petitioner to file a paper return for the assessment year 2022-23, to be treated as filed according to law, pending the final outcome of the petition.
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