https://www.taxtmi.com/caselaws?id=16184 The Appellate Tribunal ruled in favor of the assessee, allowing the carry forward of a business loss even though the return was filed following a notice under section 148 of the Income-tax Act, 1961. The Tribunal held that a return filed within the time limit specified under section 139(4) after a notice under section 148 should be deemed as filed under section 139(4) for carrying forward losses, based on precedents from various High Courts and the Supreme Court. The court emphasized the importance of timely filing of returns for determining entitlement to carry forward losses for set off purposes. en-us Tue, 12 Jan 1999 00:00:00 +0530 Tue, 01 Sep 2009 16:26:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16184 The Appellate Tribunal ruled in favor of the assessee, allowing the carry forward of a business loss even though the return was filed following a notice under section 148 of the Income-tax Act, 1961. The Tribunal held that a return filed within the time limit specified under section 139(4) after a notice under section 148 should be deemed as filed under section 139(4) for carrying forward losses, based on precedents from various High Courts and the Supreme Court. The court emphasized the importance of timely filing of returns for determining entitlement to carry forward losses for set off purposes. Case-Laws Income Tax Tue, 12 Jan 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16184