1980 (12) TMI 85 - AT - Income Tax

Summary

The ITAT Calcutta-C upheld the decision of the CIT(A) allowing the assessee to carry forward business loss for the asst. yr. 1978-79. The ITAT found that Form No. 6 seeking extension of time for filing the return of income was filed by the assessee, making them entitled to carry forward the loss. The ITAT also noted that the decision of the Calcutta High Court favored the assessee, and hence dismissed the appeal.