https://www.taxtmi.com/caselaws?id=354565 The tribunal allowed the appeal, directing the Assessing Officer to consider the legitimate claim of set off of brought forward business loss for the previous year, even though not claimed in the return, in order to determine the true income of the assessee for Assessment Year 2010-11. The tribunal emphasized that the Income Tax Appellate Tribunal has the power to entertain fresh claims made by the assessee, even if not included in a valid return, contrary to the decision in Goetze India vs. CIT. The tribunal partly allowed the appeal, stressing the importance of considering legitimate claims for set off of brought forward losses to ascertain the correct income of the assessee. en-us Fri, 12 Jan 2018 00:00:00 +0530 Wed, 31 Jan 2018 16:55:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354565 The tribunal allowed the appeal, directing the Assessing Officer to consider the legitimate claim of set off of brought forward business loss for the previous year, even though not claimed in the return, in order to determine the true income of the assessee for Assessment Year 2010-11. The tribunal emphasized that the Income Tax Appellate Tribunal has the power to entertain fresh claims made by the assessee, even if not included in a valid return, contrary to the decision in Goetze India vs. CIT. The tribunal partly allowed the appeal, stressing the importance of considering legitimate claims for set off of brought forward losses to ascertain the correct income of the assessee. Case-Laws Income Tax Fri, 12 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354565