Assessment order u/s.143(1)/(3)/144 not to allow the loss if return is not filled u/s 139(3).

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..... ect. The Board had observed therein that if a return of loss was filed beyond the time limit prescribed u/s.139(3) but within the period mentioned in Section 139(4), the ITO had to pass an assessment order u/s.143(1)/(3)/144 but disallow the claim for carry forward of the loss because the return had not been filed within the time limit prescribed u/s.139(3). 2. However the Civil Appeals No.859 .....

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..... provisions of section 22(2A) of Indian I.T.Act,1922, the same would be applicable MUTATIS MUTANDIS to section 139(3) of I.T.Act,1961 since the provisions in the Acts of 1922 and 1961 in this respect are in PARI MATERIA. 4. The Board's Instruction No.171 dated the 14th May, 1970, referred to in para 1 above is accordingly superseded. The position detailed in paras 2 and 3 above may be kept in min .....

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