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RU
HC Condones Delay Under Section 119(2)(b), Allows Carry Forward of Capital Loss
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AdvertisementChintan Navnitlal Parikh (HUF) Throu Karta Chintan Vs Deputy Secretary (OT And WT) (Gujarat High Court) The Gujarat High Court considered a writ petition challenging an order dated 16.05.2018 rejecting the petitioner’s application under Section 119(2)(b) of the Income-tax Act, 1961 for condonation of delay in filing the return of income for Assessment Year 2014-15.
The petitioner, a Hindu Undivided Family, had filed its return on 31.12.2014, declaring nil income and claiming carry forward of long-term capital loss of ₹1,39,41,842/-.
The statutory due date for filing the return was 30.0...