https://www.taxtmi.com/caselaws?id=793701 Belated filing of the AY 2020-21 return prevented carry forward of short-term capital loss under section 80 because the loss was not determined through a return filed in compliance with section 139(3). On that basis, the assessee could not use AY 2024-25 to indirectly revive the denied carry-forward or set off capital gains against that loss. The reliance on Kullu Valley Transport Co. Pvt. Ltd. was found inapplicable on the facts. The set-off claim was therefore not allowable. en-us Mon, 15 Jun 2026 00:00:00 +0530 Mon, 22 Jun 2026 08:39:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793701 Belated filing of the AY 2020-21 return prevented carry forward of short-term capital loss under section 80 because the loss was not determined through a return filed in compliance with section 139(3). On that basis, the assessee could not use AY 2024-25 to indirectly revive the denied carry-forward or set off capital gains against that loss. The reliance on Kullu Valley Transport Co. Pvt. Ltd. was found inapplicable on the facts. The set-off claim was therefore not allowable. Case-Laws Income Tax Mon, 15 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793701