https://www.taxtmi.com/caselaws?id=59866 The tribunal dismissed the appeal, affirming that the appellant was not entitled to carry forward and set off the determined loss under section 72 of the Income-tax Act, 1961. The tribunal held that the provisions of section 80, requiring timely filing of the loss return, are mandatory for availing benefits under section 72. Non-compliance with section 80 deprived the appellant of the right to carry forward the loss, emphasizing the importance of strict adherence to statutory requirements. The tribunal concluded that the Income Tax Officer's actions were lawful, and the appellant's failure to comply with section 80 resulted in the denial of the benefit sought. en-us Mon, 07 Oct 1991 00:00:00 +0530 Sat, 01 Jan 2011 15:43:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59866 The tribunal dismissed the appeal, affirming that the appellant was not entitled to carry forward and set off the determined loss under section 72 of the Income-tax Act, 1961. The tribunal held that the provisions of section 80, requiring timely filing of the loss return, are mandatory for availing benefits under section 72. Non-compliance with section 80 deprived the appellant of the right to carry forward the loss, emphasizing the importance of strict adherence to statutory requirements. The tribunal concluded that the Income Tax Officer's actions were lawful, and the appellant's failure to comply with section 80 resulted in the denial of the benefit sought. Case-Laws Income Tax Mon, 07 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59866