AO dealing with assessment concerning Subsequent Year to decide on Carry Forward & set off of Business Loss 

PCIT Vs Burda Druck India Pvt. Ltd. (Delhi High Court) Introduction: The Delhi High Court, in the case of PCIT vs. Burda Druck India Pvt. Ltd., addressed the issue of whether the Assessing Officer (AO) in a particular assessment year (AY) can decide on the carry forward and set off of business losses incurred in previous years. The case revolves around an observation made by the AO in the assessment order for AY 2014-15, stating that brought forward losses were not allowed to be carried forward. The appeal challenges the legal tenability of this observation. Background: Burda Druck India Pvt...