TMI BlogExceptions to the rule that losses can be carried forward for eight assessment yearsX X X X Extracts X X X X X X X X Extracts X X X X ..... was discontinued and there is income chargeable under section 41(1) / 41(3) / 41(4) in respect of such discontinued business, then business loss of the previous year in which business was discontinued can be SET OFF against such incomes. Where business is discontinued in circumstances given in section 33B , and is re-established within the period given in section 33B , then the losses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tions of section 47(xiiib) are satisfied, then the loss gets carried for more than eight assessment years. Section 72AA : In case of amalgamation referred to in section 72AA , the loss gets carried forward for more than 8 Assessment years. Unabsorbed depreciation can be carried forward beyond 8 years - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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