https://www.taxtmi.com/acts?id=11722 Aggregation of losses is barred where the return of tax bases is not furnished by the due date; if the amount of unabsorbed current losses (ordinary, capital, speculative, horse race and special source) for the year exceeds the corresponding amount of the immediately preceding year, the excess shall not be taken into account for any purposes of the Code in subsequent years. en-us Thu, 16 Sep 2010 18:55:43 +0530 Fri, 17 Sep 2010 13:32:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11722 Aggregation of losses is barred where the return of tax bases is not furnished by the due date; if the amount of unabsorbed current losses (ordinary, capital, speculative, horse race and special source) for the year exceeds the corresponding amount of the immediately preceding year, the excess shall not be taken into account for any purposes of the Code in subsequent years. Act-Rules Bills Thu, 16 Sep 2010 18:55:43 +0530 https://www.taxtmi.com/acts?id=11722