Re: Carried forward loss

Sir in case we have sufficient amount of brought forward loss and also after reducing the amount to the extent of addition (I.E. WE ACCEPT THE ADDITION MADE BY AO), we have sufficient amount of loss to be carried forward then also whether we are liable to pay tax if we opt for option (II) OF RULE 9

Pls share your View

If you are in appeal before the Appellate authority , and if desire to settle the issue the assessee has to pay the tax on the disputed amount . Once the tax is penalty will not be levied  and the losses will be allowed to carried forward subject to other conditions .  Please refer question No 53 and answer thereon (  F.NO IT(A) 1/ 2020-TPL  Circular  No  9 /2020 dt 22 nd April 2020 ) https://itatonline.org/info/wp-content/uploads/2020/04/CBDT-Circular-9-Vivad-Vishwas.pdf

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