2022 (12) TMI 1481

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....IYA, AM: This appeal by the assessee is preferred against the order of the CIT(A)-33, New Delhi dated 26.12.2018 pertaining to A.Y. 2014-15. 2. The grievance of the assessee read as under :- 1. That the learned Commissioner of Income Tax (Appeals) erred in law as well as on facts while not permitting the assessee to carry forward accumulated business losses of the earlier years. 2. That th....

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....                      Rs.17,56,64,494/- Assessed at loss of Rs.17,56,64,490/-. B/F losses is not allowed to be carry forward as per para 3, 4, & 5. Give credit for TDS, advance tax and regular taxes paid after verification. Interest u/s.234A, B, C, & D is being charged, as applicable. I....

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....e orders of the authorities below. The undisputed fact is that while concluding assessment the AO declared that the loss computed is not allowed to be carried forward. In our considered opinion all that the AO is required is to notify the assessee the amount of loss as computed by him. Whether the loss in any year may be carried forward to the following year and set off against the profits has to ....