https://www.taxtmi.com/caselaws?id=242493 The Court clarified the distinction between determining profit under Section 115J and computing loss to be carried forward. It upheld the Tribunal's decision on the correctness of the computation of loss under Section 115J. The Court emphasized the separate nature of processes and upheld the Tribunal's decision not to address other grounds raised by the appellant. The interpretation of Section 115J in relation to carry forward losses was upheld, favoring the assessee based on established legal principles and the need for separate determinations under the Income Tax Act. en-us Thu, 28 Nov 2013 00:00:00 +0530 Fri, 06 Jun 2014 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242493 The Court clarified the distinction between determining profit under Section 115J and computing loss to be carried forward. It upheld the Tribunal's decision on the correctness of the computation of loss under Section 115J. The Court emphasized the separate nature of processes and upheld the Tribunal's decision not to address other grounds raised by the appellant. The interpretation of Section 115J in relation to carry forward losses was upheld, favoring the assessee based on established legal principles and the need for separate determinations under the Income Tax Act. Case-Laws Income Tax Thu, 28 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242493