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2018 (1) TMI 444 - AT - Income TaxDisallowance of carry forward of losses on the ground that return of income was not filed within the due date as required under section 139(1) - Held that:- In the instant case, the ITR-V was filed though belated but on 31.03.2009. The return of income was filed well before the due date of filing of return under section 139(1) of the Act. Mere delay in submitting the ITR-V does not make the return invalid for denying the benefit of carry forward of losses in future years. We therefore hold that the assessee is entitled to carry forward of loss to future years. Accordingly, we set aside the order of the CIT(A) and direct the AO to allow the carry forward of losses to future years. - Decided in favour of assessee.
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