LLP Return Filed Within Statutory Audit Due Date, Loss Carry Forward Allowed

Paramsukh Infradevelopers LLP Vs ITO (ITAT Agra) The Income Tax Appellate Tribunal (ITAT), Agra Bench, has ruled in favor of an assessee, a Limited Liability Partnership (LLP), overturning a decision by the Commissioner of Income-tax (Appeals) [CIT(A)] and the Central Processing Centre (CPC), Bengaluru, to deny the carry forward of a business loss of Rs. 16,96,446/- for the assessment year 2019-20. The core of the dispute revolved around the due date for filing the income tax return and whether the LLP’s accounts were “required to be audited” under relevant laws. Background o...