https://www.taxtmi.com/caselaws?id=122436 A quantified capital loss of a non-resident taxpayer may be carried forward to later assessment years even where the related capital gains in the year under review are exempt from Indian tax under the India-Mauritius treaty. The entitlement to carry forward and set off is determined in the year the loss is sought to be used, and the earlier assessment of the loss amount does not conclude the later year's tax treatment. A properly quantified and notified loss may attain finality as to amount, but not as to the right to carry it forward. The position is supported by the CBDT's guidance on non-resident losses. en-us Tue, 23 Mar 2010 00:00:00 +0530 Sat, 19 Aug 2023 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122436 A quantified capital loss of a non-resident taxpayer may be carried forward to later assessment years even where the related capital gains in the year under review are exempt from Indian tax under the India-Mauritius treaty. The entitlement to carry forward and set off is determined in the year the loss is sought to be used, and the earlier assessment of the loss amount does not conclude the later year's tax treatment. A properly quantified and notified loss may attain finality as to amount, but not as to the right to carry it forward. The position is supported by the CBDT's guidance on non-resident losses. Case-Laws Income Tax Tue, 23 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122436