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HC upholds deny of carry forward of loss as bank failed to file ITR within due dates

April 26, 2019[2019] 106 62 (Bombay)/[2019] 264 Taxman 150 (Bombay)

IT: Where Assessing Officer rejected assessee's claim for carry forward of loss on ground that return was not filed within time prescribed under section 139(1) and, thereupon Tribunal directed assessee to seek condonation of delay in filing return from CBDT, in view of fact that assessee did not file application for condonation of delay even before CBDT within permissible time limit, impugned order passed by CBDT rejecting assessee's application on ground of limitation and latches, did not require any interference
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