A -ve return had been filed by the assessee for AY 2010-2011 having carry forward loss. The assessee received an order, disallowing all expenses claimed in the CY as well as PY b\/f losses, and also to pay tax on 8% of gross receipts. A CIT appeal had been filed against the tax on profits(taken by AO as 8% of gross receipts) and the disallowance of brought forward losses of PGBP. The same was partly allowed ( B\/F loss allowed). After allowing of the same, the tax on Total Income becomes -ve.
\nHence, an ITAT appeal was filed in order to claim the entire CY loss, the same pending as on 31\/1\/2020.
\nKindly guide as to whether Schedule D or A will be filed for the same. and <\/p>\n","protected":false},"excerpt":{"rendered":"
A -ve return had been filed by the assessee for AY 2010-2011 having carry forward loss. The assessee received an order, disallowing all expenses claimed in the CY as well as PY b\/f losses, and also to pay tax on 8% of gross receipts. A CIT appeal had been filed against the tax on profits(taken by AO as 8% of gross receipts) and the disallowance of brought forward losses of PGBP. The same was partly allowed ( B\/F loss allowed). After allowing of the same, the tax on Total Income becomes -ve. Hence, an ITAT appeal was filed in order to claim the entire CY loss, the same pending as on 31\/1\/2020. Kindly guide as to whether Schedule D or A will be filed for the same. and<\/p>\n