https://www.taxtmi.com/caselaws?id=55955 The Appellate Tribunal ITAT Ahmedabad-B ruled in favor of the assessee, allowing the appeal against the tax authorities' refusal to carry forward a determined loss of Rs. 3,17,010 due to late filing of the return. The Tribunal held that the amended provisions of section 80 would apply from 1st April 1985 and not retrospectively to the earlier assessment year, rejecting the CIT(A)'s decision based on the Supreme Court's ruling in Brij Mohan. The Tribunal directed the Income Tax Officer to carry forward the loss for adjustment in subsequent assessment years. en-us Wed, 06 Jun 1990 00:00:00 +0530 Tue, 30 Nov 2010 17:56:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55955 The Appellate Tribunal ITAT Ahmedabad-B ruled in favor of the assessee, allowing the appeal against the tax authorities' refusal to carry forward a determined loss of Rs. 3,17,010 due to late filing of the return. The Tribunal held that the amended provisions of section 80 would apply from 1st April 1985 and not retrospectively to the earlier assessment year, rejecting the CIT(A)'s decision based on the Supreme Court's ruling in Brij Mohan. The Tribunal directed the Income Tax Officer to carry forward the loss for adjustment in subsequent assessment years. Case-Laws Income Tax Wed, 06 Jun 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55955