https://www.taxtmi.com/caselaws?id=797169 Carry-forward and set-off of business losses require a valid loss return under Section 139(3) and determination of the loss through the relevant assessment process. Failure to file returns for intervening assessment years prevents determination and notification of the unabsorbed loss available for continued carry-forward under Sections 72, 80, 139(3) and 157. Consequently, an earlier-year business loss could not be set off against income of the later assessment years under consideration. en-us Tue, 04 Aug 2026 00:00:00 +0530 Tue, 18 Aug 2026 08:35:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797169 Carry-forward and set-off of business losses require a valid loss return under Section 139(3) and determination of the loss through the relevant assessment process. Failure to file returns for intervening assessment years prevents determination and notification of the unabsorbed loss available for continued carry-forward under Sections 72, 80, 139(3) and 157. Consequently, an earlier-year business loss could not be set off against income of the later assessment years under consideration. Case-Laws Income Tax Tue, 04 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797169