Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2020 Year 2020 This

Benefit of carry forward of losses - failure to file the return ...


Late Tax Filing Disqualifies Assessee from Carrying Forward Losses Due to Missed Deadline for Income Tax Return Submission.

May 1, 2020

Case Laws     Income Tax     AT

Benefit of carry forward of losses - failure to file the return of income on time. - assessee does not have a proper case for availing the benefit of carry forward loss by not following the respective provision of filing return within the due date

View Source

 


 

You may also like:

  1. Disallowance of setting off of the carried forward loss - return filed beyond the due date specified under subsection (1) of section 139 - It was argued that the delay...

  2. Carry forward of losses - ITR-V filed belated - Though the contention of the assessee in the said proceedings was that ITR-V was submitted by ordinary post well within...

  3. Assessment u/s 153A - benefit of carry forward of losses - assessee has claimed the business loss and carried forward the loss in the return of income filed u/s 139(1)...

  4. Determining the business loss by allowing carried forward loss - return is filed beyond the due date prescribed u/s 139(1) - AO has correctly held that business loss is...

  5. ITAT determined that an LLP partner voluntarily opting for account audit under second proviso to Rule 24(8) triggers mandatory audit requirement. The tribunal held that...

  6. Due date for filing of Income Tax Returns - benefit of carry forward of loss - RBI permission letter mandating the assessee to get his accounts audited - Extension of...

  7. CIRP - Carry forward of losses - The benefit of carry forward of losses can be availed by the Appellant subject of opportunity to be given to Income Tax Authority to...

  8. Carry forward of losses u/s 73 - Speculative loss - Derivative transaction - Tribunal erred in law in holding that the assessee was entitled to carry forward its losses - HC

  9. Assessment u/s 153A - belated return in response to notice u/s 153A - denying carry-forward of loss - it is undisputed that no assessment was pending as on the date of...

  10. Rectification u/s 154 - incorrect carry forward of loss - We reserve liberty to the assessee to file an application under Section 119(2)(b) of the Act before the...

  11. Deduction u/s 80IA was allowed despite delay in filing Form 10CCB due to technical glitches on the Income Tax portal. The form was filed 1 hour 22 minutes after the due...

  12. Relief to start-ups in carrying forward and setting off of losses - Relaxation in 51% holding of shares for the purpose of carry forward of losses of eligible star-up...

  13. ITAT adjudicated a dispute regarding carry forward of Short Term Capital Loss (STCL) for a Singapore-incorporated company. The tribunal examined the computation of...

  14. The assessee failed to claim the Minimum Alternate Tax (MAT) credit in the original income tax return and did not file a revised return. The Assessing Officer (AO) did...

  15. Loss on sale of depreciable assets - CIT(A) rejected the claim - non-filing of the return of income by due date can be basis for denial of claim for carry forward of...

 

Quick Updates:Latest Updates