https://www.taxtmi.com/caselaws?id=37894 The High Court of Bombay ruled in favor of the assessee-company, allowing it to carry forward a loss for set off against future profits despite filing the return after the prescribed time under section 139(3) of the Income Tax Act, 1961. The court emphasized that as long as the return was filed before assessment, the assessee was entitled to carry forward the loss based on relevant provisions and court decisions. en-us Fri, 07 Jul 1978 00:00:00 +0530 Thu, 01 Apr 2010 16:26:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37894 The High Court of Bombay ruled in favor of the assessee-company, allowing it to carry forward a loss for set off against future profits despite filing the return after the prescribed time under section 139(3) of the Income Tax Act, 1961. The court emphasized that as long as the return was filed before assessment, the assessee was entitled to carry forward the loss based on relevant provisions and court decisions. Case-Laws Income Tax Fri, 07 Jul 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37894