https://www.taxtmi.com/caselaws?id=9674 The court ruled in favor of the assessee, allowing the carry forward of a business loss for the assessment year 1984-1985 under the Income-tax Act, 1961. The Commissioner of Income-tax (Appeals) held that the return was filed within the time allowed under section 139(4), entitling the assessee to benefit from carrying forward and setting off the loss in subsequent years. The court emphasized the importance of timely filing of returns and the interpretation of provisions under sections 139(3) and 139(4) in determining eligibility for carrying forward losses, in line with established legal precedents and historical evolution of tax laws. en-us Tue, 02 Aug 2005 00:00:00 +0530 Sun, 28 Jun 2009 14:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9674 The court ruled in favor of the assessee, allowing the carry forward of a business loss for the assessment year 1984-1985 under the Income-tax Act, 1961. The Commissioner of Income-tax (Appeals) held that the return was filed within the time allowed under section 139(4), entitling the assessee to benefit from carrying forward and setting off the loss in subsequent years. The court emphasized the importance of timely filing of returns and the interpretation of provisions under sections 139(3) and 139(4) in determining eligibility for carrying forward losses, in line with established legal precedents and historical evolution of tax laws. Case-Laws Income Tax Tue, 02 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9674