https://www.taxtmi.com/caselaws?id=23946 The court upheld the Tribunal's decision, allowing the deductions claimed under section 80J of the Income-tax Act for all assessment years, including the disputed year. It ruled that there is no requirement for the assessee to make a definite claim before carrying forward deductions, particularly in cases of losses. The court rejected the Revenue's argument that the loss must be computed in the previous year for carry forward, stating that the Income-tax Officer can compute the loss in subsequent years. The decision favored the assessee, concluding that they were entitled to the deductions, and dismissed the reference without costs. en-us Wed, 12 Apr 1989 00:00:00 +0530 Fri, 15 Jan 2010 13:58:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23946 The court upheld the Tribunal's decision, allowing the deductions claimed under section 80J of the Income-tax Act for all assessment years, including the disputed year. It ruled that there is no requirement for the assessee to make a definite claim before carrying forward deductions, particularly in cases of losses. The court rejected the Revenue's argument that the loss must be computed in the previous year for carry forward, stating that the Income-tax Officer can compute the loss in subsequent years. The decision favored the assessee, concluding that they were entitled to the deductions, and dismissed the reference without costs. Case-Laws Income Tax Wed, 12 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23946