1980 (12) TMI 85

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.... by the CIT(A) on the issue that the assessee having filed the return of income, without being noticed under s. 139(2) of the Act, beyond the time limit prescribed under s. 139(1) of the IT Act, 1961, is not entitled to carry forward the business loss in accordance with the provisions of s. 72 of the Act. 2. The assessee is a company and the relevant asst. yr. is 1978-79. The corresponding acco....

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....f the loss according to the decision of the Calcutta High Court. 4. Having heard both sides and keeping in mind the amendment in the provision of s. 139(3) of the IT Act, 1961, we are of the opinion that the assessee who filed Form No. 6 on 27th July, 1978 seeking extension time till 31st Dec., 1978 for filing the return of income for the asst. yr. 1978-79 was in the order any course entitled t....