https://www.taxtmi.com/caselaws?id=60081 The Tribunal held that the belatedly filed return, which was within the extended time, should be considered valid under Section 139(3) and Section 80. The Tribunal emphasized the binding nature of CBDT Circular No. 469, allowing the carry-forward of the loss for the assessment year 1986-87. Consequently, the CIT(A)'s decision was overturned, directing the ITO to permit the carry-forward of the loss. The appeal was allowed, granting the assessee the benefit of carrying forward the loss. en-us Thu, 07 Jul 1994 00:00:00 +0530 Mon, 03 Jan 2011 16:15:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60081 The Tribunal held that the belatedly filed return, which was within the extended time, should be considered valid under Section 139(3) and Section 80. The Tribunal emphasized the binding nature of CBDT Circular No. 469, allowing the carry-forward of the loss for the assessment year 1986-87. Consequently, the CIT(A)'s decision was overturned, directing the ITO to permit the carry-forward of the loss. The appeal was allowed, granting the assessee the benefit of carrying forward the loss. Case-Laws Income Tax Thu, 07 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60081