New claim of capital losses in the revised return - Return filed ...

Income Tax

June 26, 2023

New claim of capital losses in the revised return - Return filed within the due date prescribed u/s 139(5) but subsequent to the due date prescribed u/s 139(1) - Assessee has failed to furnish any explanation whatsoever on the nature and character of transactions resulting in such capital loss. An unsubstantiated and uncorroborated claim is thus, in any case, untenable in law. Hence, on this score too, the claim does not meet the ingredients of provisions of S. 139(5) of the Act. - AT

View Source

← Previous Next →

New claim of capital losses in the revised return - Return filed ...

Income Tax

June 26, 2023

You may also like:

Claiming carry forward of loss at a higher level - Revised return - Since the assessee furnished the revised return within the stipulated period claiming loss at a...

Revised return of loss/unabsorbed depreciation – even if the assessee has not filed revised return, AO is bound to allow carried forward loss or depreciation as per the record - AT

Validity of revised return filed vis-a-vis claims made thereunder - revised return treated as non-est - the appellant filed his original return otherwise than u/s 139(1)...

Revised return - original return of income was filed within time - Revised return is a loss return which should have been filed within the time specified u/s 139(3) of...

Filing of revised return - denial of loss - Considering the revised return date as belated return, whereas original ITR was filed in time - the intimation under...

Exemption u/s 11 - Admittedly, the claim of exemption was made in the revised return filed within the statutory time limit but was treated as defective only on flimsy...

Carry forward of business loss - original return was filed u/s 139(1) within time declaring positive income - later revised return u/s 139(5) filing declaring loss - On...

Carry forward the loss claimed in the revised return of income - the return filed by the assessee u/s. 139(5) of the Act is in accordance with law and therefore the...

Not accepting the revised return of income and disallowing the claim of loss - Submission of return for losses - there is no specific denial u/s 80 that the return filed...

Revised return filed beyond the permissible date - Set off of brought forward business loss and unabsorbed depreciation of amalgamating company - revised return...

Quick Updates: