https://www.taxtmi.com/caselaws?id=12026 The High Court affirmed the decision of the Appellate Tribunal, ruling in favor of the firm, allowing the benefit of carry forward of loss for the assessment year 1986-87. The Court held that the firm's return was filed within the prescribed time, as per the provisions of the Income-tax Act, and emphasized that the extension applied for was deemed granted due to the lack of communication from the Income-tax Officer. The Court relied on a circular by the Central Board of Direct Taxes and previous court decisions to support its ruling against the Revenue's challenge. en-us Mon, 02 Dec 2002 00:00:00 +0530 Mon, 15 Feb 2010 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12026 The High Court affirmed the decision of the Appellate Tribunal, ruling in favor of the firm, allowing the benefit of carry forward of loss for the assessment year 1986-87. The Court held that the firm's return was filed within the prescribed time, as per the provisions of the Income-tax Act, and emphasized that the extension applied for was deemed granted due to the lack of communication from the Income-tax Officer. The Court relied on a circular by the Central Board of Direct Taxes and previous court decisions to support its ruling against the Revenue's challenge. Case-Laws Income Tax Mon, 02 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12026