Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
The assessee was entitled to set off brought forward losses from assessment years 2021-22 and 2022-23 against income in assessment year 2023-24, even if the return for 2023-24 was filed belatedly u/s 139(4). There is no requirement that the return for the year in which losses are set off must be filed within the due date u/s 139(3). The Assessing Officer was directed to verify if returns for 2021-22 and 2022-23 were filed within the due dates u/s 139(3), and if so, allow set off of brought forward losses against income in 2023-24. Interest u/ss 234B and 234C is consequential to income determined after set off of losses. The appeal was allowed subject to verification of timely filing of the 2021-22 return.
The assessee was entitled to set off brought forward losses from assessment years 2021-22 and 2022-23 against income in assessment year 2023-24, even if the return for 2023-24 was filed belatedly u/s 139(4). There is no requirement that the return for the year in which losses are set off must be filed within the due date u/s 139(3). The Assessing Officer was directed to verify if returns for 2021-22 and 2022-23 were filed within the due dates u/s 139(3), and if so, allow set off of brought forward losses against income in 2023-24. Interest u/ss 234B and 234C is consequential to income determined after set off of losses. The appeal was allowed subject to verification of timely filing of the 2021-22 return.
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