Rectification u/s 154 - Admittedly, this is a mistake apparent ...

Correction of Business Loss u/s 154: Carry Forward Until 2006-07, Not 2007-08.

September 14, 2012

Case Laws Income Tax AT

Rectification u/s 154 - Admittedly, this is a mistake apparent from record as this business loss determined in AY 1998-99 can be carried forward till 2006-07 and not in the relevant AY 2007-08. - AT

View Source

← Previous Next →

Rectification u/s 154 - Admittedly, this is a mistake apparent ...

Correction of Business Loss u/s 154: Carry Forward Until 2006-07, Not 2007-08.

September 14, 2012

Case Laws Income Tax AT

You may also like:

Prior period expenditure - recognition on the basis of finalization of negotiations - deduction is not permissible in assessment year 2007-08, but, it is permissible in...

Set off of brought forward business loss - mistakes in previous years for not claiming benefit of set-off - 8 years time limit provided in the statute - The ITAT found...

Relief to start-ups in carrying forward and setting off of losses - Relaxation in 51% holding of shares for the purpose of carry forward of losses of eligible star-up...

Disallowance u/s 14A - Carry forward of business loss – setting off carry forward business losses now depends on the finality of the addition made by Assessing Officer...

Determining the business loss by allowing carried forward loss - return is filed beyond the due date prescribed u/s 139(1) - AO has correctly held that business loss is...

Denial of carry forward of long term capital loss - When the he taxed the difference in amount under short term capital gain and also disallowed short term capital loss...

Carry forward of losses u/s 73 - Speculative loss - Derivative transaction - Tribunal erred in law in holding that the assessee was entitled to carry forward its losses - HC

Rectification of mistake u/s 154 - disallowing the excess depreciation - As per the assessee itself, the machinery purchased was put to use in February, 2007 and this...

Incorrect set off of brought forward business loss and unabsorbed depreciation - The working of the Ld. AO contains the mistakes as they are not in consonance with the...

Period of limitation for carrying forward of Unabsorbed depreciation loss prior to assessment year - once the Circular No.14 of 2001 clarified that the restriction of 8...

Carry forward of the depreciation loss - once the Circular No.14 of 2001 clarified that the restriction of 8 years for carry forward and set off of unabsorbed...

Disallowance of setting off of the carried forward loss - return filed beyond the due date specified under subsection (1) of section 139 - It was argued that the delay...

Derivative trading loss as business loss - when undisputedly assessee has entered into transaction of derivatives after 01.04.2006 in a recognised stock exchange as per...

Unabsorbed business loss – carry forward of losses - assessee shall be entitled to carry forward unabsorbed business loss only if such loss is computed based on a return...

Section 153C provisions are inapplicable as notice was issued to 'other person' under this section. Computation of six-year block period preceding assessment year...

Quick Updates: