Details of Losses to be carried forward to future years

[Mohideen A]

An Individual assessee had long term capital loss for the A.Y 2012-13, 2013-14, 2014-15, 2015-16 & 2016-17. The income tax return was filed within due date and capital loss was carried forward till A.Y 2017-18. While filing ITR for A.Y 2018-29 the carried forward loss was not reported in 'Details of Losses to be carried forward to future years' and the same was not rectified before March 2019.

1) During the current assessment year 19-20, can we claim the carry forward loss (which was not reported in previous year) and set off with capital gain of current year?

2) Is there any alternation solution in case if the above option is not feasible.

Your response is appreciated.

Thanks in advance

AI Summary

Carry forward long-term capital loss: can an omitted earlier-year loss be claimed and set off in a later assessment year? An individual taxpayer carried forward long term capital losses from earlier assessment years but omitted those carried forward losses from the 'Details of Losses to be carried forward to future years' schedule in the AY 2018 19 return and did not rectify the omission before March 2019. The principal question is whether such omitted carried forward long term capital losses can be claimed and set off against capital gains in AY 2019 20, and what alternate procedural remedies may exist if direct set off is not available.