https://www.taxtmi.com/article/detailed?id=7700 Carry forward of past business losses is governed by the law in force in the year of set off; Schedule CFL in the return is informative and does not constitute a claim to reduce taxable income. Eligibility to set off depends on facts and law at the time of set off, including restored shareholding, company classification changes, or legislative amendments. Schedule CFL may reflect disputed losses based on earlier returns, but assessed figures without pending dispute should be used. Assessment adjustments and notices relate to losses actually set off against current year income, not to mere carry forward listings. en-us Wed, 08 Nov 2017 10:55:53 +0530 Wed, 08 Nov 2017 10:55:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7700 Carry forward of past business losses is governed by the law in force in the year of set off; Schedule CFL in the return is informative and does not constitute a claim to reduce taxable income. Eligibility to set off depends on facts and law at the time of set off, including restored shareholding, company classification changes, or legislative amendments. Schedule CFL may reflect disputed losses based on earlier returns, but assessed figures without pending dispute should be used. Assessment adjustments and notices relate to losses actually set off against current year income, not to mere carry forward listings. Articles Income Tax Wed, 08 Nov 2017 10:55:53 +0530 https://www.taxtmi.com/article/detailed?id=7700