https://www.taxtmi.com/caselaws?id=326132 The Tribunal allowed the revenue's appeal, denying the assessee's claim for set off and carry forward of losses from derivative transactions. Emphasizing adherence to statutory time limits, the Tribunal upheld the AO's decision to disregard the loss claimed in the revised computation of income. It was clarified that Section 80 prohibits carrying forward losses not determined in a return filed under Section 139(3). en-us Tue, 01 Mar 2016 00:00:00 +0530 Thu, 07 Apr 2016 10:19:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326132 The Tribunal allowed the revenue's appeal, denying the assessee's claim for set off and carry forward of losses from derivative transactions. Emphasizing adherence to statutory time limits, the Tribunal upheld the AO's decision to disregard the loss claimed in the revised computation of income. It was clarified that Section 80 prohibits carrying forward losses not determined in a return filed under Section 139(3). Case-Laws Income Tax Tue, 01 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326132