https://www.taxtmi.com/caselaws?id=39879 For invoking section 23A, earlier losses had to be tested against the real commercial results reflected in the accepted assessments, not the rejected book losses. Where the books were properly rejected and the assessee accepted estimated assessments for earlier years, the book figures did not show the true profit position. The assessed figures, including additions made in those years, were therefore relevant to decide whether any genuine losses remained to be carried forward against later profits. On that basis, rejected book losses could not be relied on to resist section 23A; the levy of additional super-tax was upheld. en-us Thu, 29 Mar 1973 00:00:00 +0530 Tue, 20 Apr 2010 18:01:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39879 For invoking section 23A, earlier losses had to be tested against the real commercial results reflected in the accepted assessments, not the rejected book losses. Where the books were properly rejected and the assessee accepted estimated assessments for earlier years, the book figures did not show the true profit position. The assessed figures, including additions made in those years, were therefore relevant to decide whether any genuine losses remained to be carried forward against later profits. On that basis, rejected book losses could not be relied on to resist section 23A; the levy of additional super-tax was upheld. Case-Laws Income Tax Thu, 29 Mar 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39879