GLUHEND INDIA PRIVATE LIMITED,DELHI vs. DCIT - 3(1)(1), MUMBAI

ITA 271/MUM/2026Status: DisposedITAT Mumbai27 August 2026AY 2022-2326 pages
AI SummaryPartly Allowed

What were the facts?

The assessee's appeal challenges the determination of total income and transfer pricing adjustments. A key issue was the denial of carry forward of unabsorbed depreciation and long-term capital loss due to a belatedly filed return for the current assessment year.

What did the Tribunal hold?

The Tribunal held that unabsorbed depreciation and long-term capital loss from a prior assessment year can be carried forward even if the return for the current year was filed belatedly. The carry forward of unabsorbed depreciation is governed by Section 32(2) and is not subject to the same restrictions as business losses.

What were the issues?

Whether unabsorbed depreciation and long-term capital loss incurred in a preceding assessment year can be carried forward and set off when the return for the current assessment year is filed belatedly.

Which sections of the Income-tax Act were involved?

Section 32(2),Section 74,Section 80,Section 139(1),Section 139(3),Section 139(4)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI

Before: SHRI VIKRAM SINGH YADAV & SHRI SIDDHARTHA NAUTIYAL

PER SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER:

This appeal is filed by the Assessee against the order of Ld. Assessment Unit, Income Tax Department vide DIN: ITBA/AST/S/143(3)/2025- 26/1083126186(1) dated 28-Nov-2025 for the Assessment Year 2022-23. The Assessee has raised the following grounds of appeal:

Based on the facts and circumstances of the case, the Appellant respectfully craves leave to prefer an appeal against the order dated 28 November 2

The order continues below.

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