https://www.taxtmi.com/caselaws?id=62481 A loss return filed after the time prescribed under section 139(1) but within the period allowed by section 139(4) remains a valid return for the purposes of carry forward. The Tribunal applied the settled interpretation that section 139(4) cannot be construed to nullify section 139(3), and that the statutory scheme continues to recognise a loss return filed within the extended time. It also noted the relevance of the deeming language in the return provisions, the operation of section 80 as then in force, and the duty to determine and intimate the loss under section 157. The assessee was therefore entitled to carry forward the loss. en-us Thu, 03 Jul 1986 00:00:00 +0530 Thu, 20 Jan 2011 10:21:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62481 A loss return filed after the time prescribed under section 139(1) but within the period allowed by section 139(4) remains a valid return for the purposes of carry forward. The Tribunal applied the settled interpretation that section 139(4) cannot be construed to nullify section 139(3), and that the statutory scheme continues to recognise a loss return filed within the extended time. It also noted the relevance of the deeming language in the return provisions, the operation of section 80 as then in force, and the duty to determine and intimate the loss under section 157. The assessee was therefore entitled to carry forward the loss. Case-Laws Income Tax Thu, 03 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62481