https://www.taxtmi.com/caselaws?id=6140 A loss return filed beyond the time prescribed under section 139(3) of the Income-tax Act, 1961 raised an arguable question on whether carry forward and set-off of loss could still be claimed, because the earlier precedent relied on by the High Court was based on section 22 of the 1922 Act and was not treated as pari materia with sections 139(3) and 139(4) of the 1961 Act. On that footing, refusal to direct a reference under section 256(2) was held unsustainable, and the question was answerable in favour of the Revenue. The High Court's refusal to order a reference was therefore set aside and the matter was remitted for reference to the High Court on the question of law. en-us Tue, 12 Nov 2002 00:00:00 +0530 Thu, 23 Aug 2018 15:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6140 A loss return filed beyond the time prescribed under section 139(3) of the Income-tax Act, 1961 raised an arguable question on whether carry forward and set-off of loss could still be claimed, because the earlier precedent relied on by the High Court was based on section 22 of the 1922 Act and was not treated as pari materia with sections 139(3) and 139(4) of the 1961 Act. On that footing, refusal to direct a reference under section 256(2) was held unsustainable, and the question was answerable in favour of the Revenue. The High Court's refusal to order a reference was therefore set aside and the matter was remitted for reference to the High Court on the question of law. Case-Laws Income Tax Tue, 12 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6140