ITAT Mumbai Rejects Carry Forward Loss Due to 10-Day Delay Despite Medical Hardship

Mtitanium Apartments Pvt. Ltd. Vs DCIT (ITAT Mumbai) Tribunal rules that Mtitanium Apartments cannot claim ₹1.10 crore brought forward business losses as the income tax return for AY 2023-24 was filed late, despite medical hardship. ITAT Mumbai confirms that medical exigencies cannot override statutory deadlines under section 139(1) for claiming carry forward of business losses. Facts Mtitanium Apartments Pvt. Ltd., a domestic private limited company, filed its return of income for AY 2023-24 belatedly by 10 days, on 10.11.2023, instead of the due date 31.10.2023. The delay was attributed ...