Income Tax : The issue relates to restrictions on adjusting losses against specific incomes. The rules clearly prohibit set-off against gamblin...
Income Tax : The issue concerns treatment of carried-forward losses when post-merger conditions are breached. The law provides that such benefi...
Income Tax : Losses computed under the earlier law can be carried forward under the new Act. However, eligibility depends strictly on complianc...
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 : 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 Mumbai ITAT held that exemption under Section 54F has to be given effect before applying set-off provisions under Section 70(3...
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...
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.
Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its impact, ambiguities, and challenges.
The Finance Bill 2025 rationalizes tax loss carry forward rules under M&A by limiting it to 8 years from the original computation year.
Convert your company into an LLP before 31st March 2025 to carry forward business losses for 8 years. Act now before the tax benefit is reduced from April 2025.
Understand income tax rules for set-off and carry forward of losses, including inter-source, inter-head adjustments, and conditions for carry forward under the Income Tax Act.
Learn how losses from speculation business can be set off only against speculation income, with provisions for carry-forward.
Understand set off and carry forward of losses per sections 70-80 of Income Tax Act, 1961. Covers loss adjustments for income types and carry-forward periods.
