Comparison of section 291 "Intimation of loss." between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)

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....he context of carrying forward and set-off of losses for the purposes of specified sections. Effective date or decision date: Not stated in the document. Background & Scope Statutory hooks: Procedure for assessment; cross-references to section 111(1) (and in the Bill 111(2)), section 112, section 113(2) and section 115(1). The provision mandates that the Assessing Officer shall notify the assessee by an order in writing the amount of loss as computed by him for the purposes of the listed sections where (a) in the course of assessment it is established that a loss has taken place; and (b) the assessee is entitled to carry forward and set off such loss under the provisions of the said sections. Definitions or further explanations are: Not s....

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....eptions/Provisos No provisos, exceptions, thresholds, or carve-outs are included within the text shown. Any exceptions or procedural nuances are Not stated in the document. Illustrations * Example 1: An assessee undergoes assessment and the Assessing Officer establishes a loss. If the loss is eligible to be carried forward and set off u/s 112 (one of the listed sections), then the Assessing Officer "shall notify" the assessee by order in writing of the amount of loss as computed for the purposes of section 112. (Consistent with the text.) * Example 2: An assessee has a loss identified in assessment and the loss is relevant for section 113(2). Under the provision the officer must issue a written order notifying the computed loss amount....

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....ical impact of each change: * Inclusion of section 111(2) in the Bill broadens the listed purposes for which the Assessing Officer must notify the computed loss. If section 111(2) deals with a different tax outcome or sub-category of computation than section 111(1), its inclusion would require intimation of losses computed for that additional sub-purpose. Conversely, the absence of 111(2) in the Act narrows the explicit mandate to 111(1) only. Practical consequences include the potential for differing treatment of losses relevant to the omitted sub-section: assessees and officers may lack the explicit statutory trigger for an intimation in respect of losses falling solely within the omitted sub-section, possibly affecting procedural clari....