https://www.taxtmi.com/caselaws?id=273232 Carry-forward relief under Section 24(2) depended on an already ascertained loss from a prior assessment year, so an undetermined earlier-year loss could not be created or certified later to support set-off. Section 24(3) applied only where a loss was computed in the course of assessing the total income of that year; reassessment proceedings under Section 34 were confined to reassessment and did not require the Income-tax Officer to determine an earlier year's loss for this purpose. The assessee therefore could not insist on such determination, and the set-off claim failed. en-us Thu, 13 Mar 1952 00:00:00 +0530 Tue, 12 Jun 2018 17:29:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273232 Carry-forward relief under Section 24(2) depended on an already ascertained loss from a prior assessment year, so an undetermined earlier-year loss could not be created or certified later to support set-off. Section 24(3) applied only where a loss was computed in the course of assessing the total income of that year; reassessment proceedings under Section 34 were confined to reassessment and did not require the Income-tax Officer to determine an earlier year's loss for this purpose. The assessee therefore could not insist on such determination, and the set-off claim failed. Case-Laws Income Tax Thu, 13 Mar 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273232