Carry forward of capital loss, claimed via return filed u/s 153A, is unsustainable

Chalet Hotels Limited Vs DCIT (ITAT Mumbai)

Facts-

The assessee company filed its regular ROI u/s. 139(1) declaring a loss of Rs (-)1,89,90,32,020/. Thereafter a search and seizure action was carried out at the premises of the assessee and as a consequence of search action notice u/s. 153A was issued. In response, the assessee filed ROI declaring loss of ₹1,54,21,64,359/-. This return was further revised to ₹1,49,75,40,455/-. During the scrutiny proceedings before the Assessing Officer (AO) the as

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