https://www.taxtmi.com/caselaws?id=58483 The Tribunal held that the assessee company was not entitled to determine and carry forward its losses for the assessment years in question. This decision was based on the failure of the company to file returns within the specified time limits under the IT Act. The Tribunal emphasized that reassessment proceedings under s. 147(a) were not intended to grant relief for loss determination and carry forward but to address under-assessed income or excessive relief. The Tribunal upheld the decision of the CIT (A), dismissing the assessee's appeals for both assessment years. en-us Mon, 14 May 1984 00:00:00 +0530 Mon, 20 Dec 2010 12:00:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58483 The Tribunal held that the assessee company was not entitled to determine and carry forward its losses for the assessment years in question. This decision was based on the failure of the company to file returns within the specified time limits under the IT Act. The Tribunal emphasized that reassessment proceedings under s. 147(a) were not intended to grant relief for loss determination and carry forward but to address under-assessed income or excessive relief. The Tribunal upheld the decision of the CIT (A), dismissing the assessee's appeals for both assessment years. Case-Laws Income Tax Mon, 14 May 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58483