https://www.taxtmi.com/caselaws?id=776001 Rectification under section 154 was based on an audit objection concerning the set-off of brought forward losses in computing current income. The assessee contended that sufficient carried-forward losses were available, and the correctness of the available losses had not been examined on merits. As verification of the loss balance was necessary, the matter was restored for fresh examination and for allowing the correct set-off of brought forward losses in accordance with law. en-us Wed, 01 Jan 2025 00:00:00 +0530 Sat, 02 Aug 2025 10:27:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776001 Rectification under section 154 was based on an audit objection concerning the set-off of brought forward losses in computing current income. The assessee contended that sufficient carried-forward losses were available, and the correctness of the available losses had not been examined on merits. As verification of the loss balance was necessary, the matter was restored for fresh examination and for allowing the correct set-off of brought forward losses in accordance with law. Case-Laws Income Tax Wed, 01 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776001