https://www.taxtmi.com/caselaws?id=14601 The court ruled in favor of the Revenue, disallowing the set-off claimed by the private limited company. The court emphasized the importance of filed returns for determining losses under the Income-tax Act, 1961. It held that section 80's non obstante clause prevails over conflicting provisions like sections 41(2) and 41(5), indicating that losses not determined through a filed return cannot be carried forward and set off. The judgment underscored the necessity of complying with the statutory requirements for assessing losses, even in cases where no return has been filed. en-us Tue, 24 Oct 2000 00:00:00 +0530 Fri, 17 Jul 2009 13:44:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14601 The court ruled in favor of the Revenue, disallowing the set-off claimed by the private limited company. The court emphasized the importance of filed returns for determining losses under the Income-tax Act, 1961. It held that section 80's non obstante clause prevails over conflicting provisions like sections 41(2) and 41(5), indicating that losses not determined through a filed return cannot be carried forward and set off. The judgment underscored the necessity of complying with the statutory requirements for assessing losses, even in cases where no return has been filed. Case-Laws Income Tax Tue, 24 Oct 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14601