https://www.taxtmi.com/caselaws?id=14513 The High Court ruled against the assessee, an Agro Industries Corporation, in a case concerning the carry forward of losses determined from a return filed in response to a notice under section 148 of the Income-tax Act. The Court held that the assessee could not benefit from reassessment proceedings to claim losses not permissible originally. The judgment emphasized the Revenue's interests in reassessment proceedings and upheld the Income-tax Officer's decision to disallow the carry forward of the loss, overturning decisions by the Commissioner of Income-tax (Appeals) and the Tribunal. en-us Fri, 17 Nov 2000 00:00:00 +0530 Thu, 16 Jul 2009 13:02:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14513 The High Court ruled against the assessee, an Agro Industries Corporation, in a case concerning the carry forward of losses determined from a return filed in response to a notice under section 148 of the Income-tax Act. The Court held that the assessee could not benefit from reassessment proceedings to claim losses not permissible originally. The judgment emphasized the Revenue's interests in reassessment proceedings and upheld the Income-tax Officer's decision to disallow the carry forward of the loss, overturning decisions by the Commissioner of Income-tax (Appeals) and the Tribunal. Case-Laws Income Tax Fri, 17 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14513