Thursday, April 11, 2019

Benefit of carry forward of loss wasn't available if assessee didn't file ITR for earlier assessment year

IT: Before a carry forward loss can be claimed by assessee, it is necessary that a loss has been determined in pursuance of a return filed for earlier assessment year under section 139

from www.taxmann.com Latest Case Laws http://bit.ly/2D7s3YA

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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...