https://www.taxtmi.com/caselaws?id=60510 The Appellate Tribunal ITAT CALCUTTA-D partially allowed the appeal in the case involving an assessee's return filed after multiple assessment proceedings. The Tribunal upheld the disallowance of business and long-term capital losses due to the delayed and defective return filing. However, it permitted the carry forward of unabsorbed depreciation, emphasizing the significance of timely and valid return filing for determining loss carry forward entitlement under the Income-tax Act. en-us Fri, 28 Feb 1986 00:00:00 +0530 Wed, 05 Jan 2011 16:26:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60510 The Appellate Tribunal ITAT CALCUTTA-D partially allowed the appeal in the case involving an assessee's return filed after multiple assessment proceedings. The Tribunal upheld the disallowance of business and long-term capital losses due to the delayed and defective return filing. However, it permitted the carry forward of unabsorbed depreciation, emphasizing the significance of timely and valid return filing for determining loss carry forward entitlement under the Income-tax Act. Case-Laws Income Tax Fri, 28 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60510