Income Tax : Learn the rules for set off and carry forward of income tax losses in India. Covers intra-head and inter-head adjustments, restric...
Income Tax : An overview of India's tax provisions for set-off and carry forward of losses, covering key sections, conditions, and anti-abuse r...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
Income Tax : The Finance Bill 2025 rationalizes tax loss carry forward rules under M&A by limiting it to 8 years from the original computation ...
Income Tax : Convert your company into an LLP before 31st March 2025 to carry forward business losses for 8 years. Act now before the tax benef...
Income Tax : Income tax is a tax on income earned by a taxpayer in a given year. However, activity of a taxpayer may not always result in incom...
Income Tax : The Tribunal held that once the return is accepted as valid under Section 139(1), denial of carry forward loss on belated filing g...
Income Tax : The Court ruled that a marginal eight-minute delay in filing the return could not justify denial of loss carry forward. The order ...
Income Tax : The court ruled that invoking an inapplicable statutory provision vitiates revision. Proper identification of the governing sectio...
Income Tax : The ITAT Delhi heard an appeal from Kamal Kant, whose set-off of non-speculative business losses from Futures & Options (F&O) agai...
Income Tax : The ITAT in Kolkata ruled that tax claims cannot be denied on technicalities when documentation is on record. The case of Ambika M...
The Tribunal held that once the return is accepted as valid under Section 139(1), denial of carry forward loss on belated filing grounds is contradictory and unsustainable.
The Court ruled that a marginal eight-minute delay in filing the return could not justify denial of loss carry forward. The order rejecting condonation was set aside to prevent disproportionate hardship.
The court ruled that invoking an inapplicable statutory provision vitiates revision. Proper identification of the governing section is mandatory before exercising revisional powers.
Learn the rules for set off and carry forward of income tax losses in India. Covers intra-head and inter-head adjustments, restrictions on capital and speculative losses, carry forward periods, and rules for unabsorbed depreciation.
The ITAT Delhi heard an appeal from Kamal Kant, whose set-off of non-speculative business losses from Futures & Options (F&O) against Capital Gains income was disallowed by the tax authorities. Citing Section 71(2) of the Income-tax Act and judicial precedent, the ITAT found the set-off permissible.
An overview of India’s tax provisions for set-off and carry forward of losses, covering key sections, conditions, and anti-abuse rules.
The ITAT in Kolkata ruled that tax claims cannot be denied on technicalities when documentation is on record. The case of Ambika Metaliks highlights the importance of fairness.
The ITAT Mumbai has ruled that brought-forward business losses cannot be set off against short-term capital gains from the sale of depreciated assets, upholding the disallowance.
ITAT Pune remands case regarding set-off of brought-forward business losses against deemed short-term capital gains from depreciable assets, citing judicial precedents and scope of Section 143(1).
Mumbai ITAT rules STT-paid short-term capital loss can be set off against non-STT short-term capital gains, allowing beneficial set-off for taxpayers.
