https://www.taxtmi.com/caselaws?id=67148 A return declaring business loss filed beyond the validly extended time can justify denial of the statutory benefit of carry forward, especially where the assessee offers no sufficient material to show inability to complete the return within time. On the facts, the further extension request was made after expiry of the earlier period and was properly refused, so the denial of carry forward was upheld. However, an assessment-year observation that the loss would not be carried forward is not conclusive for later years; the availability of set-off must be determined independently in the subsequent assessment year. en-us Thu, 09 Mar 1995 00:00:00 +0530 Wed, 09 Mar 2011 12:43:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67148 A return declaring business loss filed beyond the validly extended time can justify denial of the statutory benefit of carry forward, especially where the assessee offers no sufficient material to show inability to complete the return within time. On the facts, the further extension request was made after expiry of the earlier period and was properly refused, so the denial of carry forward was upheld. However, an assessment-year observation that the loss would not be carried forward is not conclusive for later years; the availability of set-off must be determined independently in the subsequent assessment year. Case-Laws Income Tax Thu, 09 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67148