Once the assessee exercises the option of claiming deduction ...

Tax Deduction Claim Restricted to Losses from Initial Assessment Year Onward, Earlier Losses Not Allowed u/s 80IA.

March 24, 2015

Case Laws Income Tax AT

Once the assessee exercises the option of claiming deduction from a particular assessment year, then only losses of the years beginning from initial assessment year alone are to be brought forward and no losses of earlier years which were already set off against the income of the assessee cannot be notionally brought forward. - assessee’s claim of deduction u/s 80IA is not maintainable - AT

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Once the assessee exercises the option of claiming deduction ...

Tax Deduction Claim Restricted to Losses from Initial Assessment Year Onward, Earlier Losses Not Allowed u/s 80IA.

March 24, 2015

Case Laws Income Tax AT

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