https://www.taxtmi.com/caselaws?id=25849 The court held that under section 80J of the Income-tax Act, a claim for deficiency must be made and quantified in the year it arises before it can be carried forward. The court ruled against the assessee, stating that the relief for the assessment year 1968-69 cannot be computed in the assessment proceedings of 1973-74 and carried forward to 1974-75. The court emphasized that the computation of deficiency in the initial year is a prerequisite for carrying it forward to subsequent years. The decision favored the Revenue, with each party bearing its own costs. en-us Fri, 08 Aug 1986 00:00:00 +0530 Mon, 01 Feb 2010 12:54:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25849 The court held that under section 80J of the Income-tax Act, a claim for deficiency must be made and quantified in the year it arises before it can be carried forward. The court ruled against the assessee, stating that the relief for the assessment year 1968-69 cannot be computed in the assessment proceedings of 1973-74 and carried forward to 1974-75. The court emphasized that the computation of deficiency in the initial year is a prerequisite for carrying it forward to subsequent years. The decision favored the Revenue, with each party bearing its own costs. Case-Laws Income Tax Fri, 08 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25849