https://www.taxtmi.com/caselaws?id=209609 The High Court upheld the Tribunal's decision, allowing the assessee to claim the benefit of carry forward of business loss despite not furnishing a declaration under Section 10B(8) before filing the return. The Court emphasized that technical non-compliance should not hinder legitimate claims for business loss carry forwards. Additionally, the Court ruled in favor of the assessee regarding the forfeiture of the claim under Section 10B due to debonding by the Development Commissioner, affirming the allowance of carrying forward the business loss for the assessee. en-us Mon, 31 Jan 2011 00:00:00 +0530 Fri, 12 Jul 2013 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209609 The High Court upheld the Tribunal's decision, allowing the assessee to claim the benefit of carry forward of business loss despite not furnishing a declaration under Section 10B(8) before filing the return. The Court emphasized that technical non-compliance should not hinder legitimate claims for business loss carry forwards. Additionally, the Court ruled in favor of the assessee regarding the forfeiture of the claim under Section 10B due to debonding by the Development Commissioner, affirming the allowance of carrying forward the business loss for the assessee. Case-Laws Income Tax Mon, 31 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209609