Held that section 139(3) of the Act provides for filing a return of income so as to enable the assessee to carry forward losses if the return is filed within time as per section 139(1) of the Act. Therefore, there was no question of condoning the delay to carry forward the loss by the assessee. Moreover, the assessee had also failed to show any hardship, much less any genuine hardship for filing the return of income for the assessment year 2015-2016 belatedly on March 29, 2016. It was also clear from the order passed by the Central Board of Direct Taxes that the assessee was habitual in late filing the return of income from the assessment years 2011-2012 to 2017-2018. The order rejecting the application to condone the delay in making the claim was justified.(AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 119 : Central Board of Direct Taxes-Circular-Carry forward of losses-Assessee must prove genuine hardship-Rejection of application for condonation of delay was affirmed. [S.139(1), 139(3), Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-60038","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fCm","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=60038"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60038\/revisions"}],"predecessor-version":[{"id":60039,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60038\/revisions\/60039"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=60038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=60038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=60038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}