Carried Forward Loss
This query is : Resolved
04 November 2009
If we close our partnership then its carried forward loss can be carried forward in proprietor ship of that partner
04 November 2009
Section 78(2) prohibits carry forward and set-off of losses of one person by another person except when another person receive losses by way of inheritance. The same was also held in case of Pratap Desai HUF V. Asstt.CIT ( Pat) { [2009]118 ITD 29 ( Pat) }
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