https://www.taxtmi.com/caselaws?id=64020 The Tribunal allowed the appeal of a private limited company regarding the carry forward of business loss for the assessment year 1985-86 under section 72 of the Income-tax Act. The Assessing Officer's denial of the carry forward was based on the untimely filing of the return and subsequent extension applications. The Tribunal emphasized the duty of the Assessing Officer to consider extension applications filed by the assessee before making a decision on the carry forward of loss, remitting the issue back for reconsideration. en-us Mon, 30 Aug 1993 00:00:00 +0530 Thu, 03 Feb 2011 11:51:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64020 The Tribunal allowed the appeal of a private limited company regarding the carry forward of business loss for the assessment year 1985-86 under section 72 of the Income-tax Act. The Assessing Officer's denial of the carry forward was based on the untimely filing of the return and subsequent extension applications. The Tribunal emphasized the duty of the Assessing Officer to consider extension applications filed by the assessee before making a decision on the carry forward of loss, remitting the issue back for reconsideration. Case-Laws Income Tax Mon, 30 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64020