https://www.taxtmi.com/caselaws?id=393154 The Appellate Tribunal dismissed the revenue's appeal against the Ld. CIT(A)'s decision to allow the assessee company's claim of loss in the revised return for Assessment Year 2012-13. The Tribunal held that as the original return was filed within the due date specified under section 139(1) and the revised return was filed within the due date under section 139(5), the set off of loss was permissible. It was concluded that section 80 of the Income Tax Act could not be invoked in this scenario, affirming the Ld. CIT(A)'s decision. en-us Wed, 22 Jan 2020 00:00:00 +0530 Sat, 07 Mar 2020 07:19:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393154 The Appellate Tribunal dismissed the revenue's appeal against the Ld. CIT(A)'s decision to allow the assessee company's claim of loss in the revised return for Assessment Year 2012-13. The Tribunal held that as the original return was filed within the due date specified under section 139(1) and the revised return was filed within the due date under section 139(5), the set off of loss was permissible. It was concluded that section 80 of the Income Tax Act could not be invoked in this scenario, affirming the Ld. CIT(A)'s decision. Case-Laws Income Tax Wed, 22 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393154