Assessee, a NRI, was carrying on business of agencies of shipyards and marine electronics. Accounts of assessee were audited by a Chartered Accountant on 15-10-2016 and return of income for assessment year 2016-17 was filed on 17-10-2016 and assessee claimed business loss. Assessing Officer observed that since return was not filed within due date prescribed under section 139(1), in terms of section 139(3), read with section 80, loss claimed by assessee would not be allowed to be carried forward to subsequent years. Assessee placed on record copy of press release dated 9-9-2016 issued by CBDT extending due date of filing of returns to 17-10-2016 for assessment year 2016-17. It was found that CBDT had sought to extend due date from 30-9-2016 to 17-10-2016 only in respect of those cases where accounts are required to be audited under provisions of Act while filing income tax. Since assessee’s case herein did not fall under ambit of Explanation 2(a)(ii) to section 139(1), as assessee was liable for audit under any other law for time being in force, due date for assessee was only 30-9-2016 and not 17-10-2016 and, hence, assessee was not entitled to carry forward business loss incurred during year to subsequent years.(AY. 2016-17)