Assessee had shown positive income in the returns, but in the ...

Assessee Entitled to Carry Forward Business Loss Despite Positive Income; No Rectification by AO u/s 154.

April 30, 2014

Case Laws Income Tax HC

Assessee had shown positive income in the returns, but in the assessment, the business loss was determined by the AO – thus, the assessee is entitled for the benefit of carry forward of business loss - AO cannot rectify the assessment u/s 154 - HC

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Assessee had shown positive income in the returns, but in the ...

Assessee Entitled to Carry Forward Business Loss Despite Positive Income; No Rectification by AO u/s 154.

April 30, 2014

Case Laws Income Tax HC

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