https://www.taxtmi.com/caselaws?id=276201 A statutory right to carry forward business losses under section 24(2) could not be denied on the ground that the loss had not first been ascertained and determined by the department, because the Act did not impose that requirement in the relevant years. The later insertion of section 22(2A) in 1953 did not govern the assessment years in question and could not be used to defeat the carry-forward claim. Where an assessee had no obligation to file a return, insisting on prior departmental determination would frustrate the object of the provision. The losses were therefore to be determined and carried forward for set-off against subsequent profits, and the earlier contrary view was overruled. en-us Thu, 23 Apr 1959 00:00:00 +0530 Thu, 01 Nov 2018 16:18:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276201 A statutory right to carry forward business losses under section 24(2) could not be denied on the ground that the loss had not first been ascertained and determined by the department, because the Act did not impose that requirement in the relevant years. The later insertion of section 22(2A) in 1953 did not govern the assessment years in question and could not be used to defeat the carry-forward claim. Where an assessee had no obligation to file a return, insisting on prior departmental determination would frustrate the object of the provision. The losses were therefore to be determined and carried forward for set-off against subsequent profits, and the earlier contrary view was overruled. Case-Laws Income Tax Thu, 23 Apr 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276201