TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Supreme Court: Late filing doesn't bar carrying forward losses</h1> <h3>Commissioner of Income-Tax Versus Alok Enterprises</h3> The Supreme Court allowed the appeal on carry forward of loss for set off in subsequent years, even if the return of loss is filed late under section ... Interpretation of the provisions of section 22 - Question that 'Whether, the assessee will be entitled to the benefit for carry forward of loss to be set off in subsequent years even if the return of loss is filed beyond the time prescribed under section 139(3)', is a question of law - language of section 22 and section 139, sub-sections (3) and (4) of the Act do not prima facie appear to be pari materia and it cannot be said that the question raised by the Revenue is not an arguable one. The Supreme Court allowed the appeal regarding the carry forward of loss for set off in subsequent years even if the return of loss is filed beyond the prescribed time under section 139(3) of the Income-tax Act, 1961. The Court set aside the High Court's decision and directed the Tribunal to refer the case back to the High Court for decision under section 256(2) of the Act.
TaxTMI 
TaxTMI 
