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 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...
Explore the detailed analysis of JS Capital LLC Vs ACIT (ITAT Mumbai) regarding the offsetting of Short Term Capital Loss (STCL) against Short Term Capital Gain (STCG) under section 70(2) of the Income Tax Act.
Explore how DCIT vs. Claris Lifesciences Limited case sets precedent for setting off deemed short-term capital gain on sale of depreciable against long-term capital loss.
Learn about the crucial concept of set off and carry forward of losses in taxation. Discover how losses can be deducted from profits within the same financial year and carried forward to subsequent years for tax relief.
Delhi High Court ruling on PCIT Vs Burda Druck India Pvt. Ltd. explores AO’s authority in deciding business loss carry forward. Full text and analysis here.
ITAT Mumbai order in DCIT vs Brandon & Co. (P) Ltd.: Set-off of carry-forward loss of capital gains in demerger. Analysis and conclusions provided.
Explore recent legal precedents on carrying forward capital losses in mergers and demergers. Understand implications and conflicts in tax laws with insightful cases.
Discover key provisions in tax laws for setting off and carrying forward losses to optimize your tax liability and make the most of your financial planning.
In this article, we discuss ITAT Mumbai’s decision in Hiranandani Healthcare Pvt Ltd vs CIT case regarding set-off of brought forward losses and impact of Section 79 on individual shareholding changes.
Delve into the Prem Naraindas Raney Vs DCIT (ITAT Mumbai) case to understand the complexities surrounding the set-off of short-term capital loss against gains under section 70 and 71 of the Income Tax Act, 1961.
Gain insights on how to handle losses under various income heads as per the Indian Income Tax Act, 1961. Know about sections 70-80 in detail.
