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2016 (3) TMI 1013 - AT - Income TaxDisallowance of carry forward of loss - Held that:- Since no claim of set off of loss is made by the assessee in this year the action of AO in rejecting to allow carry forwarded is not tenable as it preempts the future quasi-judicial powers of the AO who has to actually set off of the loss if and when there are profits. Therefore, the remarks/ findings of the ld. AO denying claim of carryover of earlier losses and unabsorbed depreciation are expunged. The legality of claim of set off will be considered by AO who will deal with the aspect of set off. See Manmohan Das [1965 (11) TMI 33 - SUPREME Court ]. Thus the grounds of the assessee to this extent are allowed.
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