TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Omission of Section 111(2) narrows mandatory notice duty for assessed losses, risking unclear carry-forward and set-off outcomes</h1> The provision imposes a mandatory duty on the Assessing Officer to issue a written order notifying the assessee of the amount of loss computed when a loss is established in assessment and is eligible for carry-forward and set-off under the specified sections. The Bill expressly referenced both sub-sections 111(1) and 111(2), whereas the enacted Act text omits 111(2), narrowing the enumerated purposes for notification; this omission may reduce statutory clarity and could materially affect losses that fall solely within the omitted sub-section. Procedural details, timelines and remedies are not specified.
TaxTMI 
TaxTMI 