https://www.taxtmi.com/caselaws?id=78469 The High Court upheld the Tribunal's decision, ruling in favor of the assessee regarding the interpretation of Section 115JB Clause (iii) of the Income Tax Act. The Court held that the assessee is entitled to deduct losses brought forward from the previous financial year, as per the books of account, irrespective of any subsequent liquidation of those losses during the current financial year. The appeal was dismissed as lacking merit. en-us Fri, 08 Oct 2010 00:00:00 +0530 Mon, 31 Oct 2011 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78469 The High Court upheld the Tribunal's decision, ruling in favor of the assessee regarding the interpretation of Section 115JB Clause (iii) of the Income Tax Act. The Court held that the assessee is entitled to deduct losses brought forward from the previous financial year, as per the books of account, irrespective of any subsequent liquidation of those losses during the current financial year. The appeal was dismissed as lacking merit. Case-Laws Income Tax Fri, 08 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78469