https://www.taxtmi.com/caselaws?id=340722 The Tribunal upheld the decision of the CIT(A) that the short term capital loss claimed by the assessee for A.Y. 2009-10 cannot be carried forward to the succeeding year due to the return not being filed within the time prescribed under section 139(3) of the Income Tax Act. The Tribunal dismissed the appeal, emphasizing the importance of timely filing of returns for carrying forward losses, despite the argument that the provisions of section 139(3) and section 80 should not apply when total income declared is positive. en-us Wed, 22 Mar 2017 00:00:00 +0530 Sat, 25 Mar 2017 09:27:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340722 The Tribunal upheld the decision of the CIT(A) that the short term capital loss claimed by the assessee for A.Y. 2009-10 cannot be carried forward to the succeeding year due to the return not being filed within the time prescribed under section 139(3) of the Income Tax Act. The Tribunal dismissed the appeal, emphasizing the importance of timely filing of returns for carrying forward losses, despite the argument that the provisions of section 139(3) and section 80 should not apply when total income declared is positive. Case-Laws Income Tax Wed, 22 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340722