Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (4) TMI 140 - ITAT JODHPURDisallowance of brought forward and carried forward total business loss - returns of income could not be filed within due date - HELD THAT:- Revenue has not disputed the fact that in earlier years, from the years 2011-12 to 2014-15, the condonation has been allowed by the Competent Authority u/s 119(2)(b) of the Act. It is stated that the facts are identical and the petition for condonation of delay qua the year under consideration is pending for adjudication before the Competent Authority. Matters need to be restored to the file of Ld.CIT(A) to decide the issue of allowability of business loss to be carried forward relating to the year under consideration afresh and allow carry forward business loss relating to the Assessment Years 2011-12 to 2014-15 where the Competent Authority has allowed condonation of delay in filing the return of income. Thus, grounds raised by the assessee are allowed in the terms indicated herein above. Appeal filed by the assessee is allowed for statistical purposes.
|