Carry Forward and set off of losses
This query is : Resolved
02 March 2009
Asst Year 2004-05 Loss determined u/s 143(3) Rs.2,40,000/-,A.Y,2005-06 Loss Rs.5,000/- u/s 143(1)(a).During A.Y,2006-07 Return filed showing Income Of Rs.8,000/-.Assessee failed to mention carry forward loss in A.Y.2006-07.Scrutiny Completed in the month of Dec 2008 with Income of Rs.2,10,000/-.carry forward of loss denied by A O on the ground that it is not mentioned in I T Return.During A Y 2007-08,A.Y.2008-09 above loss has been mentioned.A O insisting to pay taxes on the ground that it is not mentioned in the Return filed.Is the A O Correct?
02 March 2009
In my opinion it is mistake apparent.
You can rectify the same.
Other opinion of experts also awaited.
You can rectify the same.
Other opinion of experts also awaited.
02 March 2009
Answered by me.
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