https://www.taxtmi.com/caselaws?id=60396 A return filed after the due date under section 139(1) did not bar carry forward of business loss where the assessee had sought extension of time in Form No. 6 before filing. As no penalty proceedings under section 271(1)(a) were shown in the assessment order, section 139(3) was held inapplicable to deny the loss carry forward. The Calcutta High Court ruling on the point was treated as binding and favourable to the assessee, so the business loss was allowed to be carried forward. en-us Fri, 19 Dec 1980 00:00:00 +0530 Wed, 05 Jan 2011 11:30:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60396 A return filed after the due date under section 139(1) did not bar carry forward of business loss where the assessee had sought extension of time in Form No. 6 before filing. As no penalty proceedings under section 271(1)(a) were shown in the assessment order, section 139(3) was held inapplicable to deny the loss carry forward. The Calcutta High Court ruling on the point was treated as binding and favourable to the assessee, so the business loss was allowed to be carried forward. Case-Laws Income Tax Fri, 19 Dec 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60396