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    July 28, 2026   Case LawsGST
    Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustain...
    July 28, 2026   Case LawsGST
    Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities e...
    July 28, 2026   Case LawsIncome Tax
    Redemption premium on business-funding FCCBs is revenue expenditure and may be spread across the prescribed maturity period.
    July 28, 2026   Case LawsIncome Tax
    Pre-commencement project receipts remain capital when tied to installation, while infrastructure deductions follow the taxpayer's chosen initial year.
    July 28, 2026   Case LawsIncome Tax
    Tax deducted at source must be considered before prosecuting delayed return filing where the statutory exception applies.
    July 28, 2026   Case LawsIncome Tax
    Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
    July 28, 2026   Case LawsIncome Tax
    Notional interest under mercantile accounting cannot be imputed where debtors lack business activity and interest recovery is unsupported.
    July 28, 2026   Case LawsIncome Tax
    India-Netherlands treaty taxation: executive search fees and cost reimbursements may fall outside technical services taxation.
    July 28, 2026   Case LawsIncome Tax
    Kachha arhtia turnover excludes principals' sale proceeds; tax-audit penalty fails where no books existed for audit.
    July 28, 2026   Case LawsIncome Tax
    Foreign income taxed in final settlement proceedings cannot be reassessed under the Black Money Act, preventing double taxation.
    July 28, 2026   Case LawsIncome Tax
    Outright software purchases treated as business profits, eliminating withholding where the foreign seller lacks an Indian permanent establishment.
    July 28, 2026   Case LawsIncome Tax
    Interest on partners' running accounts and lender accruals remains deductible where tax is deducted and recipients report income.
    July 28, 2026   Case LawsIncome Tax
    Business closure expenditure fails the section 37(1) test, while unsupported estimated foreign exchange loss disallowance cannot stand.
    July 28, 2026   Case LawsIncome Tax
    Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
    July 28, 2026   Case LawsIncome Tax
    Interest accrual, related investment disallowance, loan genuineness and unquoted-share valuation govern the respective tax adjustments and remand.
    July 28, 2026   Case LawsIncome Tax
    Independent corroboration and proven nexus govern additions based on retracted statements, loose sheets, and third-party records.
    July 28, 2026   Case LawsIncome Tax
    Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
    July 28, 2026   Case LawsIncome Tax
    Bad-debt deduction for share-broking client dues is available on account write-off without proving actual irrecoverability.
    July 28, 2026   Case LawsCustoms
    Show cause notice limits and unreliable statements resulted in penalties for alleged courier-based gold smuggling being set aside.
    July 28, 2026   Case LawsCustoms
    Customs confiscation requires specific notice, hearing and proof of import contravention before penalties or redemption fine may arise.
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    July 28, 2026   Case Laws GST
    Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustainable.
    July 28, 2026   Case Laws GST
    Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities exist.
    July 28, 2026   Case Laws Income Tax
    Redemption premium on business-funding FCCBs is revenue expenditure and may be spread across the prescribed maturity period.
    July 28, 2026   Case Laws Income Tax
    Pre-commencement project receipts remain capital when tied to installation, while infrastructure deductions follow the taxpayer's chosen initial year.
    July 28, 2026   Case Laws Income Tax
    Tax deducted at source must be considered before prosecuting delayed return filing where the statutory exception applies.
    July 28, 2026   Case Laws Income Tax
    Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relevant date.
    July 28, 2026   Case Laws Income Tax
    Notional interest under mercantile accounting cannot be imputed where debtors lack business activity and interest recovery is unsupported.
    July 28, 2026   Case Laws Income Tax
    India-Netherlands treaty taxation: executive search fees and cost reimbursements may fall outside technical services taxation.
    July 28, 2026   Case Laws Income Tax
    Kachha arhtia turnover excludes principals' sale proceeds; tax-audit penalty fails where no books existed for audit.
    July 28, 2026   Case Laws Income Tax
    Foreign income taxed in final settlement proceedings cannot be reassessed under the Black Money Act, preventing double taxation.
    July 28, 2026   Case Laws Income Tax
    Outright software purchases treated as business profits, eliminating withholding where the foreign seller lacks an Indian permanent establishment.
    July 28, 2026   Case Laws Income Tax
    Interest on partners' running accounts and lender accruals remains deductible where tax is deducted and recipients report income.
    July 28, 2026   Case Laws Income Tax
    Business closure expenditure fails the section 37(1) test, while unsupported estimated foreign exchange loss disallowance cannot stand.
    July 28, 2026   Case Laws Income Tax
    Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported adjustments failed.
    July 28, 2026   Case Laws Income Tax
    Interest accrual, related investment disallowance, loan genuineness and unquoted-share valuation govern the respective tax adjustments and remand.
    July 28, 2026   Case Laws Income Tax
    Independent corroboration and proven nexus govern additions based on retracted statements, loose sheets, and third-party records.
    July 28, 2026   Case Laws Income Tax
    Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual business use.
    July 28, 2026   Case Laws Income Tax
    Bad-debt deduction for share-broking client dues is available on account write-off without proving actual irrecoverability.
    July 28, 2026   Case Laws Customs
    Show cause notice limits and unreliable statements resulted in penalties for alleged courier-based gold smuggling being set aside.
    July 28, 2026   Case Laws Customs
    Customs confiscation requires specific notice, hearing and proof of import contravention before penalties or redemption fine may arise.

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      Home› Highlights › Income Tax › 2021 › December, 2021 › This
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      Income Tax

      Disallowance of setting off of the carried forward loss - return...

      Late Tax Return Filing Denies Set-Off for Carried Forward Losses u/s 139(1) of Income Tax Act.

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      Income TaxDecember 30, 2021Case LawsAT
      Disallowance of setting off of the carried forward loss - return filed beyond the due date specified under subsection (1) of section 139 - It was argued that the delay has happened for the first time in the last 25 years for a situation totally beyond his control. - The statute is very clear on this issue that for claiming the benefit of setting off of carried forward loss against the income of the subsequent year, the return for the assessment year in which loss was incurred has to be filed in time as specified u/s 139(1) - claim of set off of carried forward loss rejected - AT
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