1996 (6) TMI 22 - HC - Income Tax

Summary

The High Court of Gauhati allowed the carry forward of business loss for the assessment year 1984-85, despite the assessee not filing its return within the prescribed time under section 139(1) of the Income-tax Act. The Tribunal's decision was upheld in favor of the assessee, citing relevant legal precedents. No costs were awarded in this case.