https://www.taxtmi.com/caselaws?id=36002 The High Court of Karnataka affirmed the Tribunal's decision, allowing the carry forward of losses by an assessee-firm from the unregistered period to the registered period under s. 77 of the Income Tax Act, 1961. The court emphasized that such carry forwards are permissible regardless of the firm's status in subsequent assessment years, aligning with the legislative intent of the Act. The court clarified that the aspect of apportionment among partners did not arise in this case, focusing solely on the carry forward of losses from one year to the next. en-us Wed, 25 Mar 1981 00:00:00 +0530 Thu, 18 Mar 2010 17:35:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36002 The High Court of Karnataka affirmed the Tribunal's decision, allowing the carry forward of losses by an assessee-firm from the unregistered period to the registered period under s. 77 of the Income Tax Act, 1961. The court emphasized that such carry forwards are permissible regardless of the firm's status in subsequent assessment years, aligning with the legislative intent of the Act. The court clarified that the aspect of apportionment among partners did not arise in this case, focusing solely on the carry forward of losses from one year to the next. Case-Laws Income Tax Wed, 25 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36002