https://www.taxtmi.com/caselaws?id=5475 A refusal to assess belated loss returns is an appealable order, and if it is not challenged, the assessee cannot later reopen those loss years in subsequent-year proceedings for carry-forward or set-off. The statutory stage of refusing assessment is distinct from the later stage of quantifying an already assessed loss. However, where validly determined losses exist and the later business is found to be the same business, carry-forward and set-off remain permissible under the loss provisions. The Tribunal may also direct quantification of earlier losses for the limited purpose of giving effect to the set-off claim in later assessment years. en-us Wed, 16 Aug 1995 00:00:00 +0530 Tue, 25 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5475 A refusal to assess belated loss returns is an appealable order, and if it is not challenged, the assessee cannot later reopen those loss years in subsequent-year proceedings for carry-forward or set-off. The statutory stage of refusing assessment is distinct from the later stage of quantifying an already assessed loss. However, where validly determined losses exist and the later business is found to be the same business, carry-forward and set-off remain permissible under the loss provisions. The Tribunal may also direct quantification of earlier losses for the limited purpose of giving effect to the set-off claim in later assessment years. Case-Laws Income Tax Wed, 16 Aug 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5475