https://www.taxtmi.com/caselaws?id=779957 ITAT remanded the assessment to the AO, directing verification of carried-forward non-speculative business losses claimed under section 72(3) for AYs 2017-18 and 2020-21 and, if genuine and within the eight-year limit, allow set-off despite prior reporting errors. The claim for unabsorbed depreciation under section 32(2) was also remitted for verification and adjustment against profits if legally allowable. The AO must verify the section 43B contention and afford the taxpayer a proper hearing before concluding. en-us Thu, 28 Aug 2025 00:00:00 +0530 Thu, 16 Oct 2025 08:30:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779957 ITAT remanded the assessment to the AO, directing verification of carried-forward non-speculative business losses claimed under section 72(3) for AYs 2017-18 and 2020-21 and, if genuine and within the eight-year limit, allow set-off despite prior reporting errors. The claim for unabsorbed depreciation under section 32(2) was also remitted for verification and adjustment against profits if legally allowable. The AO must verify the section 43B contention and afford the taxpayer a proper hearing before concluding. Case-Laws Income Tax Thu, 28 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779957