Eg: 1.Firm 'X 'got loss in the financial year 2010-11 (I.T.Return was filed Correctly)
2.Firm 'X' got profit in the F.year 2011-12(loss in the previous year was not brought forwarded and tax was paid on profit)
3.Firm 'X' got profit in the F.year 2012-13 So my doubt is whether i could brought forward the loss mentioned in point 1 or else was there any alternative to claim such loss Pls help me in this issue.
12 July 2013
You can revise the return of the firm,, if time-limit allows you to do so & claim the refund in AY 2012-13. . For claiming the loss it is required to be mention in the subsequent year's return. This is a costly mistake and on technical grounds it may not be allowed to do so as you are desiring. .
CAclubindia
