Court Permits Application for Delay Condonation u/s 119(2)(b) for 2004-05 Loss Carry Forward Correction.

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....Rectification u/s 154 - incorrect carry forward of loss - We reserve liberty to the assessee to file an application under Section 119(2)(b) of the Act before the competent authority seeking for condonation of delay in filing returns and thereafter to seek for carry forward of loss to the subsequent assessment year which were incurred during the assessment year 2004-05. If such an application is filed by the assessee within a period of two weeks from the date of receipt of certified copy of the order, the same shall be considered by the competent authority in accordance with law - HC....