Section 80 of the income tax act, 1961
This query is : Resolved
CA SHAH DILEEPKUMAR
(Querist)
21 December 2011
Sir if the original return of income filed before due date with positive business income u/s. 139(1) and thereafter return of income revised and business loss return filed u/s. 139(5) of the Act. The loss as shown in revised return can be carried forward and set off against future income. Pl reply at earliest
21 December 2011
As per the judgement in case of Dhampur Sugar Mills ltd. revised return u/s 139(5) substitutes the original return from the date the original retrun filled.
Hence revise return steps into the shoes of the original return. thereby as per the provisions of sec 80 read with sec 139(3),the loss shall be carried forward.
Hence revise return steps into the shoes of the original return. thereby as per the provisions of sec 80 read with sec 139(3),the loss shall be carried forward.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Movement of goods by packers and movers - type of sale - Reg.
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Missed uploading GST Invoice
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- RCM and same line
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
