https://www.taxtmi.com/caselaws?id=446821 The Delhi HC upheld the Tribunal's decision directing the AO to expunge remarks stating that brought forward losses could not be carried forward. The Tribunal found that the AO's role was limited to notifying the assessee about computed losses for the relevant assessment year. The HC held that Section 79 does not empower an AO dealing with a particular assessment year to place limitations on future AOs' adjudicatory powers regarding carry forward and set-off of losses. The court noted that unabsorbed depreciation and capital losses fall outside Section 79's scope, and such matters should be examined by the relevant AO when set-off is claimed in subsequent years. en-us Fri, 24 Nov 2023 00:00:00 +0530 Wed, 18 Feb 2026 16:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446821 The Delhi HC upheld the Tribunal's decision directing the AO to expunge remarks stating that brought forward losses could not be carried forward. The Tribunal found that the AO's role was limited to notifying the assessee about computed losses for the relevant assessment year. The HC held that Section 79 does not empower an AO dealing with a particular assessment year to place limitations on future AOs' adjudicatory powers regarding carry forward and set-off of losses. The court noted that unabsorbed depreciation and capital losses fall outside Section 79's scope, and such matters should be examined by the relevant AO when set-off is claimed in subsequent years. Case-Laws Income Tax Fri, 24 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446821