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of <h1>Speculative Business Losses: Carry Forward Unadjusted Losses for Up to Four Years if Filed Under Section 139(1).</h1> If a speculative business incurs a loss that cannot be fully adjusted in the same year, the unadjusted loss can be carried forward to the next year to offset income from speculative business. This carry forward is permissible only if the income or loss return for the year of the loss is filed by the due date under section 139(1). The loss can be carried forward for up to four years following the year it was incurred. These rules do not apply to unabsorbed depreciation from speculative business, which is governed by different provisions.
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