My client has incurred loss of Rs. 265000/- & unabsorbed depriciation of Rs. 30000/- in A.Y. 2011-12. It has properly carried forward the same in subsequent year but in A.Y.2014-15 tax return preparer fails to brought the same in return. In A.Y. 2015-16 the clients wants to set off this loss against the profit earned. Is it allowable????? Pls reply me
CAclubindia
