https://www.taxtmi.com/caselaws?id=17556 The High Court of Kerala affirmed the Income-tax Appellate Tribunal's decision to allow the carry forward of losses for the assessee for the assessment years 1986-87 and 1987-88. The court emphasized the Income-tax Officer's discretion under section 139(3) of the Income-tax Act, supporting its decision with references to relevant case law. The judgment highlighted the significance of considering the facts and circumstances of each case in determining the entitlement to carry forward losses, ultimately dismissing the petition and upholding the Tribunal's decision. en-us Tue, 02 Jul 1996 00:00:00 +0530 Wed, 23 Sep 2009 12:38:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17556 The High Court of Kerala affirmed the Income-tax Appellate Tribunal's decision to allow the carry forward of losses for the assessee for the assessment years 1986-87 and 1987-88. The court emphasized the Income-tax Officer's discretion under section 139(3) of the Income-tax Act, supporting its decision with references to relevant case law. The judgment highlighted the significance of considering the facts and circumstances of each case in determining the entitlement to carry forward losses, ultimately dismissing the petition and upholding the Tribunal's decision. Case-Laws Income Tax Tue, 02 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17556