Loss not carried forward to future years

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If your business loss was not carried forward to future years due to a belated ITR filing, you may still have options. While the e-filing portal may not offer direct appeal facilities, you can file a condonation application under section 119(2)(b) with the jurisdictional CIT. This application should be filed manually with the nearest CIT office.

Raghavendra

Raghavendra (Querist)
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01 March 2021 For AY 2019-20, audit report (Form 3CB) was filed before due date and same was accepted by by assessee in time, but ITR filed belatedly after due date. In assessment order loss remaining after adjustments not carried forward to future years. What is the remedy, can assessee file appeal before CIT(A).

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 March 2021 Yes, file condonation under section 119(2)(b) with CIT regular not with CIT (A).

Raghavendra

Raghavendra (Querist)
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02 March 2021 In eFiling website there is no facility to file appeal to CIT, only appeal to CIT(A) available and also form 119(2)(b) not provided in online mode. Do I need to file appeal to nearest CIT office ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 March 2021 Yes, file manually with jurisdictionl CIT.

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