https://www.taxtmi.com/caselaws?id=70426 The revenue's appeal challenging the Commissioner (Appeals) decision to allow the assessee to carry forward losses for the assessment year 1986-87 was dismissed. The Commissioner's reliance on Circular No. 469 and legal precedents supported the decision to permit the carry forward of losses based on the timely filed return and lack of response to the extension of time application. The Tribunal upheld the decision, rejecting the revenue's request for verification and confirming the assessee's entitlement to the loss. en-us Fri, 27 Sep 1991 00:00:00 +0530 Sat, 16 Apr 2011 10:52:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70426 The revenue's appeal challenging the Commissioner (Appeals) decision to allow the assessee to carry forward losses for the assessment year 1986-87 was dismissed. The Commissioner's reliance on Circular No. 469 and legal precedents supported the decision to permit the carry forward of losses based on the timely filed return and lack of response to the extension of time application. The Tribunal upheld the decision, rejecting the revenue's request for verification and confirming the assessee's entitlement to the loss. Case-Laws Income Tax Fri, 27 Sep 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70426