https://www.taxtmi.com/caselaws?id=58455 The Tribunal upheld the AAC's decision in favor of the assessee, allowing the carry forward and set off of the loss from a previous year determined in the firms' files but not in the assessee's own file. The Tribunal emphasized that the assessee had fulfilled all necessary procedures and cited relevant case law to support the decision. The Department's argument that only losses determined by the ITO could be carried forward was rejected, and the Tribunal affirmed that the right to carry forward losses is not dependent on quantification in the assessee's file. The Department's appeal was dismissed. en-us Wed, 05 May 1982 00:00:00 +0530 Mon, 20 Dec 2010 11:20:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58455 The Tribunal upheld the AAC's decision in favor of the assessee, allowing the carry forward and set off of the loss from a previous year determined in the firms' files but not in the assessee's own file. The Tribunal emphasized that the assessee had fulfilled all necessary procedures and cited relevant case law to support the decision. The Department's argument that only losses determined by the ITO could be carried forward was rejected, and the Tribunal affirmed that the right to carry forward losses is not dependent on quantification in the assessee's file. The Department's appeal was dismissed. Case-Laws Income Tax Wed, 05 May 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58455