Is deficit allowed to be carried forward to subsequent years?


Last updated: 13 November 2021

Court :
ITAT Mumbai

Brief :
Aforesaid appeals by revenue in case of two different assessee for Assessment Years (AY) 2011-12 to 2016-17 assail separate orders of first appellate authority. However, the facts as well as issues are common in all the years and it is admitted position that adjudication in any one year shall equally apply to other years also.

Citation :
I.T.A. No. 06/Mum/2021

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