Held that where assessee had filed its return of income within prescribed time, although audited financial statements could not be filed along with return of income as accounts were not audited by that time, there was no justification for denying carry forward of business loss for year under consideration based on non-filing of audited financial statements keeping in view applicable and relevant provisions of Act for computing such loss. Where assessee had not got its statutory audit under Companies Act done within prescribed time, or had not got its tax audit done under provisions of section 44AB, there were penal provisions provided under statute for non-compliances. Section 80 only stipulates that return of income is to be filed within prescribed time, which assessee had complied with. (AY. 2002-03)