https://www.taxtmi.com/caselaws?id=11863 The High Court of Madras ruled that the assessee was not entitled to carry forward a business loss beyond eight assessment years, despite the absence of assessment for a particular year due to a change in the previous year. The court held that the principles established in a Supreme Court decision regarding the carry forward of development rebate and deductions were applicable to business losses as well. The court concluded that the assessee could not extend the period for carrying forward the loss beyond eight years as per the Income-tax Act, ultimately ruling in favor of the Revenue and against the assessee in both cases. en-us Mon, 11 Nov 2002 00:00:00 +0530 Wed, 10 Feb 2010 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11863 The High Court of Madras ruled that the assessee was not entitled to carry forward a business loss beyond eight assessment years, despite the absence of assessment for a particular year due to a change in the previous year. The court held that the principles established in a Supreme Court decision regarding the carry forward of development rebate and deductions were applicable to business losses as well. The court concluded that the assessee could not extend the period for carrying forward the loss beyond eight years as per the Income-tax Act, ultimately ruling in favor of the Revenue and against the assessee in both cases. Case-Laws Income Tax Mon, 11 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11863