1994 (1) TMI 11 - HC - Income Tax

Summary

The High Court of Gauhati ruled in favor of the assessee regarding the carry forward of loss in the case of filing the return after the specified time under the Income-tax Act, 1961. The court referenced previous cases and held that the assessee is entitled to carry forward the loss if the return is filed within the time allowed under the Act. The question was answered in favor of the assessee, and no costs were awarded.