CARRY FORWARD OF LOSSES
This query is : Resolved
shruti karuturi
(Querist)
28 May 2008
A loss of 21.7 crores has been incurred in the asst yr 1999-2000, But there was a case going on it for which the judgemnt was given in the asst yr 2007-08, So my question is how can the loss be carried forward??..(should eight yrs be considered from the yr of loss incurred or from the yr 2007-08??)
CA. Yayati Tyagi
(Expert)
28 May 2008
u/s 10A, a unit which is enjoying tax exemption under this section, can not carry forward losses of the year when exemption is in force.
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