https://www.taxtmi.com/caselaws?id=6832 Section 139(3) of the Income-tax Act, 1961 requires a loss return for carry forward to be filed within the time allowed under section 139(1). The omission of the earlier extension power found in the 1922 Act was treated as deliberate, and section 80 was read to confirm that carry forward is a statutory concession available only when loss is determined on a return filed under section 139. The court noted that the deeming language treating such a return as one under section 139(1) does not revive any power to extend time. Where the assessee seeks only carry forward, strict compliance with the filing deadline is necessary, and belated loss returns are not entitled to compulsory consideration. en-us Thu, 09 Feb 1967 00:00:00 +0530 Fri, 06 Feb 2009 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6832 Section 139(3) of the Income-tax Act, 1961 requires a loss return for carry forward to be filed within the time allowed under section 139(1). The omission of the earlier extension power found in the 1922 Act was treated as deliberate, and section 80 was read to confirm that carry forward is a statutory concession available only when loss is determined on a return filed under section 139. The court noted that the deeming language treating such a return as one under section 139(1) does not revive any power to extend time. Where the assessee seeks only carry forward, strict compliance with the filing deadline is necessary, and belated loss returns are not entitled to compulsory consideration. Case-Laws Income Tax Thu, 09 Feb 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6832