https://www.taxtmi.com/caselaws?id=120734 The Tribunal allowed the appeal, condoning a one-day delay in filing due to reasonable cause. It ruled in favor of the assessee, permitting the carry forward and set-off of business losses from the assessment year 1999-2000 against the income for 2001-02. The Tribunal determined that section 10B(6) applies post-tax holiday and does not restrict loss set-off during the holiday period. It concluded that the profits are computed under section 28, making section 72 applicable for loss carry forward and set-off. The appeal by the assessee was allowed. en-us Fri, 28 Dec 2007 00:00:00 +0530 Wed, 27 Dec 2023 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120734 The Tribunal allowed the appeal, condoning a one-day delay in filing due to reasonable cause. It ruled in favor of the assessee, permitting the carry forward and set-off of business losses from the assessment year 1999-2000 against the income for 2001-02. The Tribunal determined that section 10B(6) applies post-tax holiday and does not restrict loss set-off during the holiday period. It concluded that the profits are computed under section 28, making section 72 applicable for loss carry forward and set-off. The appeal by the assessee was allowed. Case-Laws Income Tax Fri, 28 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120734