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 2018-19 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

[DR.MARIAPPAN GOVINDARAJAN]

In my view it can be carry forwarded. The other views are solicited.

AI Summary

Carry forward of capital loss can be claimed in the current year despite prior omission if return was filed timely. An individual omitted to report previously carried forward long term capital losses in the return schedule for reporting losses; the respondent states those omitted carried forward losses can be carried forward and implies they may be set off against current year capital gains, without specifying procedural steps or alternative remedies.