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Exceptions to the rule that losses can be carried forward for eight assessment years

Income Tax - Set off and Carry forward of Losses - 06 - Section 35AD: Loss of business which is specified under section 35AD can be carried forwards without any time limit. If business was discontinued and there is income chargeable under section 41( .....

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-established within the period given in section 33B, then the losses of such business including brought forward losses shall be: i.Carried forward to AY in which business is re-established and SET OFF against PGBP ii.Balance carried forward to next 7 .....

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