https://www.taxtmi.com/caselaws?id=15524 The High Court of Kerala addressed the interpretation of s. 80 of the IT Act, 1961 concerning the filing of returns u/s 139(3) for carrying forward losses. The Court consolidated the issue to determine if s. 80 applies only when returns are filed within the specified timeframe. Emphasizing the legislative history, the Court ruled in favor of the Revenue, denying the carry forward of the loss due to the untimely filed return. It criticized the Tribunal's reliance on outdated provisions and concluded that the assessee was not entitled to carry forward the loss. The Court disposed of the IT Reference accordingly. en-us Sat, 25 Sep 1999 00:00:00 +0530 Tue, 25 Aug 2009 17:17:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15524 The High Court of Kerala addressed the interpretation of s. 80 of the IT Act, 1961 concerning the filing of returns u/s 139(3) for carrying forward losses. The Court consolidated the issue to determine if s. 80 applies only when returns are filed within the specified timeframe. Emphasizing the legislative history, the Court ruled in favor of the Revenue, denying the carry forward of the loss due to the untimely filed return. It criticized the Tribunal's reliance on outdated provisions and concluded that the assessee was not entitled to carry forward the loss. The Court disposed of the IT Reference accordingly. Case-Laws Income Tax Sat, 25 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15524