Carry forward of losses restricted: only losses determined from returns filed within the prescribed time or extended period. Entitlement to carry forward and set off losses is limited to losses determined pursuant to a return filed within the prescribed time or within any extension granted by the Income tax Officer; the Board's earlier instruction denying carry forward for belated loss returns is confined to assessment year 1984-85, and the amended statutory rule effective 9 April 1985 governs subsequent years.
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.
Carry forward of losses restricted: only losses determined from returns filed within the prescribed time or extended period.
Entitlement to carry forward and set off losses is limited to losses determined pursuant to a return filed within the prescribed time or within any extension granted by the Income tax Officer; the Board's earlier instruction denying carry forward for belated loss returns is confined to assessment year 1984-85, and the amended statutory rule effective 9 April 1985 governs subsequent years.
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