https://www.taxtmi.com/caselaws?id=751019 HC dismissed the petition and upheld the order refusing condonation under s.119(2)(b). The assessee filed a belated return u/s 139(4) and sought carry-forward of derivative transaction loss, but had not claimed that loss in the original return or during assessment (s.143(3) order dated 15.12.2017), rendering the assessment final. The court held s.119 could not cure a non-claimed loss where timely return requirements of s.139(3) were unmet; no sufficient hardship was shown and habitual late filing was noted. en-us Tue, 26 Mar 2024 00:00:00 +0530 Mon, 20 Jul 2026 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751019 HC dismissed the petition and upheld the order refusing condonation under s.119(2)(b). The assessee filed a belated return u/s 139(4) and sought carry-forward of derivative transaction loss, but had not claimed that loss in the original return or during assessment (s.143(3) order dated 15.12.2017), rendering the assessment final. The court held s.119 could not cure a non-claimed loss where timely return requirements of s.139(3) were unmet; no sufficient hardship was shown and habitual late filing was noted. Case-Laws Income Tax Tue, 26 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751019