https://www.taxtmi.com/caselaws?id=282001 For assessment year 1984-85, filing the loss return beyond the time prescribed under section 139(3) did not by itself bar carry forward and set-off of business loss. The Calcutta HC applied its earlier ruling that the benefit was not denied merely because of late filing, and read the Board circular as accepting that position up to assessment year 1984-85. The amendments introduced in 1986, with effect from 1-4-1987, were held applicable only from assessment year 1987-88 onwards and therefore did not affect the assessee's claim for 1984-85. The question was answered in the affirmative, and carry forward and set-off were allowed. en-us Mon, 07 Nov 1988 00:00:00 +0530 Wed, 17 Jul 2019 13:17:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282001 For assessment year 1984-85, filing the loss return beyond the time prescribed under section 139(3) did not by itself bar carry forward and set-off of business loss. The Calcutta HC applied its earlier ruling that the benefit was not denied merely because of late filing, and read the Board circular as accepting that position up to assessment year 1984-85. The amendments introduced in 1986, with effect from 1-4-1987, were held applicable only from assessment year 1987-88 onwards and therefore did not affect the assessee's claim for 1984-85. The question was answered in the affirmative, and carry forward and set-off were allowed. Case-Laws Income Tax Mon, 07 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282001