Business loss of previous year

Tax queries 498 views 4 replies

If business loass of a company for the A.Y. 2009-10 was not shown as c/f but loss was shown in Profit and loss a/c in the ITR-6, can the assessing officer allow c/f of loss. If no, is there any other solution for this problem. 

Replies (4)

company is under mandatory audit, if auditor did not reported it then its fault, ask the auditor to change the report and revise return.

The auditor mentioned the loss in the report but while e-filing the return the loss was not claimed in ITR-6 but P&L was correctly feeded. 

And as far as revised return is concerned the mistake is of A.Y. 2009-10 for which last date for revision of return is 31st March, 2011, which is already passed. The case is under scrutiny at present. 

with concent of AO, handover the revised return to AO, he may consider the facts after reconcilation with 3CD and eligible to allow

Thanks.


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