Saturday, September 1, 2018

AO could deny carry forward & set-off of loss due to sec. 79 prohibition only when assessee actually claimed it

IT : Issue whether loss in any year may be carried forward to following year and set-off against income of subsequent year is liable to be determined by Assessing Officer who deals with assessment of such subsequent year

from www.taxmann.com Latest Case Laws https://ift.tt/2PVHZ5e

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...