https://www.taxtmi.com/circulars?id=8692 Where a loss return under business or capital gains is filed after the period specified in section 139(3) but within the extended time under section 139(4), the return is valid; the ITO must take cognizance, complete assessment within the prescribed time limits and state in the order whether the loss will be disallowed for carry forward. Prior Board instruction held that unabsorbed depreciation and development rebate can still be carried forward despite late filing. en-us Thu, 14 May 1970 00:00:00 +0530 Wed, 25 May 2011 15:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8692 Where a loss return under business or capital gains is filed after the period specified in section 139(3) but within the extended time under section 139(4), the return is valid; the ITO must take cognizance, complete assessment within the prescribed time limits and state in the order whether the loss will be disallowed for carry forward. Prior Board instruction held that unabsorbed depreciation and development rebate can still be carried forward despite late filing. Circulars Income Tax Thu, 14 May 1970 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8692