Section 72(1) of the Income Tax Act

Income-tax Act, 2025: s.112

Section 72(1) falls under section 72 of the Income-tax Act, 1961, which corresponds to section 112 (Carry forward and set off of business loss) of the Income-tax Act, 2025.

Read section 112 of the 2025 Act

Correspondence checked against the ICAI tabular mapping of the two Acts and the BharatTax.co section commentary.

The decision most relied on for Section 72(1) is CIT v. Estate & Finance Ltd. (111 ITR 119), cited in 3 of the 34 judgments on BharatTax that turn on this section.

Leading authorities on Section 72(1)

CIT v. Estate & Finance Ltd.
111 ITR 119 · 1978 · High Court
3
citing judgments

Judgments on Section 72(1)

Shree Shiv Vijay Processors Private Limited, Surat vs. Income Tax Officer Ward 2 1 3, Surat

The appeal of the assessee is allowed

ITA 1241/SRT/2025[2018-19]Status: DisposedITAT Surat20 Aug 2026AY 2018-19

Bench: Ms. Suchitra Kamble & Shri B.M. Biyanishree Shiv Vijay Processors Private Income Tax Officer 2(1)(3), Limited, Nfac Delhi Vs. 258/1 Gidc Pandesara, Surat Surat Pan: Aadcs3839B (Appellant) : (Respondent) Assessee By : Shri Jaikishan Goel, Ca Respondent By : Shri Ashish Kumar, Sr. Dr Date Of Hearing : 17.06.2026 Date Of Pronouncement : 20.08.2026 O R D E R Per : Suchitra Kamble, J M: The Appeal Filed By The Assessee Is Against The Order Passed By The Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [In Short “Cit(A)”] Dated 29.08.2025 For The Assessment Year (In Short “Ay”) 2018-19. 2. The Assessee Has Raised The Following Grounds Of Appeal: “The Assessee Has Filed Return Of Income On 01-11-2018 At 12.30 Am I.E. Half Hour Late Of Due Date Of Filing Of Return Of Income. The Assessee Has Got There Accounts Audited & Filed Returned Income In Time Within Due Date. The Assessee Has Filed Return & Got Accounts Audited Since From Last Fifteen Years Within Due Date. This Was First Year In Which Assessee Has Filed Return Of Income Half Hour Late Because Of Technical Glitches Of It System Of It Department. However, Ao Has Disallowed Loss To Be Carried Forward Stating Return Of Income Was Filed Late After Due Date. We Pray To Allow Us To Carry Forward Loss.” Shree Shiv Vijay Processors Private Limited

For Appellant: Shri Jaikishan Goel, CAFor Respondent: Shri Ashish Kumar, Sr. DR
Section 32(2)Section 72(1)

Nayon Exports, Mumbai vs. ITO Ward 19(2)(4), Mumbai, Piramal Chamber

In the result, the grounds of appeal raised by the assessee are allowed

ITA 2573/MUM/2026[2016-17]Status: DisposedITAT Mumbai07 Aug 2026AY 2016-17

Bench: Shri Pawan Singhand Shri Girish Agrawal(Physical Hearing) Nayon Exports Ito, Ward – 19(2)(4), Mumbai 623, Parekh Market, J.S.S. Road, Vs Piramal Chamber, Parel, Opera House, Mumbai – 400012. Mumbai – 400004. [Pan : Aaafn1173D] Appellant / Assessee Respondent / Revenue Assessee By Shri H.S. Raheja, Advocate Revenue By Shri Adity Rai, Sr. Dr Date Of Hearing 12.05.2026 Date Of Pronouncement 07.08.2026 Order Under Section 254(1) Of Income Tax Act

Section 254(1)Section 32(2)Section 71Section 72(1)Section 72(2)

The Madhavpura Mercantile Co. Op. Bank Limited (Under Liquidation), Ahmedabad vs. The ACIT, Circle-1(2), Ahmedabad

The appeal of the assessee is partly allowed

ITA 2242/AHD/2025[2017-18]Status: DisposedITAT Ahmedabad07 Apr 2026AY 2017-18

Bench: Ms Suchitra Kamble & Shri Narendra Prasad Sinha

Section 143(3)Section 154Section 50Section 72(1)

The Madhavpura Mercantile Co. Op. Bank Limited (Under Liquidation), Ahmedabad vs. The ACIT, Circle-1(1)(1), Ahmedabad

The appeal of the assessee is partly allowed

ITA 2241/AHD/2025[2016-17]Status: DisposedITAT Ahmedabad07 Apr 2026AY 2016-17

Bench: Ms Suchitra Kamble & Shri Narendra Prasad Sinha

Section 143(3)Section 154Section 50Section 72(1)

Aditya Cement, Behror vs. ITO, Behror

In the result, the appeal filed by the assessee is partly allowed

ITA 1491/JPR/2024[2013-14]Status: DisposedITAT Jaipur13 May 2025AY 2013-14

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Anand Kumar Gupta, AdvFor Respondent: Mrs. Swapnil Parihar, JCIT-DR a
Section 143(3)Section 154Section 68Section 72(1)

Hotel Ayodhya, Kolhapur vs. Income Tax Officer, Kolhapur

In the result, the appeal of the assessee is allowed

ITA 150/PUN/2025[AY 2021-22]Status: DisposedITAT Pune27 Mar 2025

Bench: SHRI MANISH BORAD (Accountant Member), SHRI S. S. VISWANETHRA RAVI (Judicial Member)

For Appellant: Shri Pramod S. ShingteFor Respondent: Shri Manoj Tripathi
Section 143(1)Section 143(1)(a)Section 32(2)Section 72Section 72(1)Section 73

Limagrain India Private Limited, Hyderabad vs. DCIT, Circle -5(1), Hyderabad

In the result, appeal filed by the assessee is partly allowed for statistical purpose

ITA 464/HYD/2022[2018-19]Status: DisposedITAT Hyderabad19 Dec 2024AY 2018-19

Bench: Shri Manjunatha G. (Accountant Member), Shri K. Narasimha Chary (Judicial Member)

For Appellant: Shri R.Srinivasulu, ARFor Respondent: : Shri B.Bala Krishna, CIT-DR
Section 143(3)Section 144C(5)Section 92C

Valuable Technologies Pvt Ltd, Mumbai vs. Commissioner of Income Tac (Appeals)-11 Pune, Pune

In the result, the appeal of the assessee is allowed for In the result, the appeal of the assessee is allowed for In the result, the appeal of the assessee is allowed for statistical purposes

ITA 645/MUM/2024[2020-2021]Status: DisposedITAT Mumbai30 Aug 2024AY 2020-2021

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh () Assessment Year: 2020-21 Valuable Technologies Pvt. Ltd., Cit(A)-11, Dcit Central Circle 1 Plot No. 53/1 Media Info Park, Road, Thane, Ashok It Park 6Th Floor, No.7, Midc, Near Akruti Trade Vs. Ward No. -16, Wagle Industrial Centre, Andheri (East), Estate, Thane (West)-400604. Mumbai-400093. Pan No. Aaccv 2732 P Appellant Respondent

For Appellant: Ms. Rajeshwari Menon, Sr. DRFor Respondent: Mr. Jagdish Shetty
Section 154Section 43BSection 72(1)Section 74

Meenakshi Energy and Infrastructure Holdings Private Limited, Hyderabad vs. Deputy Commissioner of Income Tax, Circle-5(1), Hyderabad

In the result, appeal filed by the assessee is allowed

ITA 291/HYD/2024[2018-19]Status: DisposedITAT Hyderabad27 Jun 2024AY 2018-19

Bench: Shri Laliet Kumar & Shri Manjunatha, G.आ.अपी.सं /Ita No.291/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2018-19) Meenakshi Energy & Vs. Dy. C. I. T. Infrastructure Holdings (P) Circle 5 (1) Ltd, Hyderabad Hyderabad Pan:Aafcm6917L (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Advocate Shri A.V. Raghuram रधजस् व द्वधरध/Revenue By:: Shri K.Meghanath Chowhan,(Cit)Dr सुिवधई की तधरीख/Date Of Hearing: 21/05/2024 घोर्णध की तधरीख/Pronouncement: 27/06/2024 आदेश/Order

For Appellant: Advocate Shri A.V. RaghuramFor Respondent: : Shri K.Meghanath Chowhan,(CIT)DR
Section 72(1)

DCIT(It)-4(2)(2), Mumbai vs. Channel V Music Networks Ltd, Mumbai

In the result, the appeal is dismissed

ITA 1423/MUM/2021[2014-15]Status: DisposedITAT Mumbai01 Sept 2022AY 2014-15
Section 115A(1)Section 115A(1)(b)Section 143(3)Section 72(1)

DCIT (International Taxation) 4(2) (2) Mumbai, Mumbai vs. Channel V.Music Networks Ltd., Mumbai

In the result, the appeal is dismissed

ITA 1422/MUM/2021[2015-16]Status: DisposedITAT Mumbai01 Sept 2022AY 2015-16
Section 115A(1)Section 115A(1)(b)Section 143(3)Section 72(1)

Sundaresh Bhatt, Liquidator of Abg Shipyard vs. Central Board of Indirect Taxes and Customs

CIVIL APPEAL No. 7667/2021Supreme Court26 Aug 2022

Bench: 3 Judges

Section 62(1)

The JCIT(OSD), Circle-2(2), Ahmedabad vs. The General Co. Op. Bank Ltd., Ahmedabad

In the result, appeals filed by the Revenue are dismissed

ITA 373/AHD/2020[2013-14]Status: DisposedITAT Ahmedabad05 Aug 2022AY 2013-14

Bench: The Tribunal. The Appeal Is Filed Before The Tribunal On 26.06.2020 Whereas The Appeals Ought To Have Been Filed On Or Before 23.05.2020 This Period Falls Under Covid-Pandemic Situation, Thus Following Hon’Ble Supreme Court Judgment Dated 23.3.2020 In Suo Moto Writ Petition (Civil) No.3 Of 2020, Vide Hon’Ble Supreme Court Has Extended Time Limit For Filing Appeals W.E.F. 15.3.2020. Thus, There Is No Delay In Filing The Above Appeals & Accordingly The Appeals Are Taken For Adjudication On Merits.

For Appellant: Shri A.P. Singh, CIT/DR &For Respondent: Shri A.P. Nanavaty, A.R
Section 143Section 143(3)Section 147Section 21(2)Section 263

Infinity Infotech Parks Ltd., Kolkata vs. PCIT-1, Kolkata

In the result, the appeal of the assessee is allowed

ITA 32/KOL/2022[2017-18]Status: DisposedITAT Kolkata18 Apr 2022AY 2017-18

Bench: Shri A. T. Varkey, Jm & Shri Rajesh Kumar, Am ]

Section 143(3)Section 263Section 32Section 43(6)Section 50Section 72

ITO 3(3)(4), Mumbai vs. M/S Regency Property Investment Pvt Ltd., Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 815/MUM/2020[2013-14]Status: DisposedITAT Mumbai27 Oct 2021AY 2013-14

Bench: Shri Saktijit Dey & Shri Rajesh Kumarassessment Year: 2013-14

For Appellant: Shri Satish Mody, A.RFor Respondent: Shri Bharat Andhale, D.R
Section 71Section 72Section 72(1)

Kavita Agarwal, New Delhi vs. ACIT, Central Circle- 19, New Delhi

ITA 5858/DEL/2018[2011-12]Status: DisposedITAT Delhi30 Jun 2021AY 2011-12
Section 10(38)Section 111ASection 112Section 115JSection 143(1)Section 143(3)Section 14ASection 32

M/S the Oriental Insurance Co. Ltd., New Delhi vs. DCIT, New Delhi

ITA 4535/DEL/2016[2010-11]Status: DisposedITAT Delhi30 Jun 2021AY 2010-11
Section 10(38)Section 111ASection 112Section 115JSection 143(1)Section 143(3)Section 14ASection 32

DCIT, Circle-3(2), Ahmedabad vs. The Janta Commercial Co. Op. Bank Ltd., Ahmedabad

In the result, the appeal filed by the Revenue is dismissed

ITA 538/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad17 Jan 2020AY 2013-14

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasadआयकर अपील सं./I.T.A. No. 538/Ahd/2018 ("नधा"रण वष" / Assessment Year : 2013-14)

For Appellant: Shri N. K. Goel, Sr. D.R
Section 139(3)

Anand Urban Co.-Operative Bank Ltd., Anand vs. The Income Tax Officer, Ward-1, Anand

In the result, the appeals of the assessee are partly allowed for statistical purpose

ITA 1991/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad07 Aug 2019AY 2014-15

Bench: Shri Rajpal Yadav & Shri Pradipkumar Kediaआयकर अपील सं./ Ita No.101 & 102/Ahd/2017 [Asstt.Year: 2009-10 & 2012-13] Asstt.Year : 2014-15

For Appellant: Smt.Arti N. Shah, ARFor Respondent: Shri S.K. Dev, Sr.DR
Section 143(3)Section 148Section 50Section 72(1)Section 80P(2)(a)

Anand Urban Co.-Op. Bank Ltd., Anand vs. The Income Tax Officer, Ward-1, Anand

In the result, the appeals of the assessee are partly allowed for statistical purpose

ITA 102/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad07 Aug 2019AY 2012-13

Bench: Shri Rajpal Yadav & Shri Pradipkumar Kediaआयकर अपील सं./ Ita No.101 & 102/Ahd/2017 [Asstt.Year: 2009-10 & 2012-13] Asstt.Year : 2014-15

For Appellant: Smt.Arti N. Shah, ARFor Respondent: Shri S.K. Dev, Sr.DR
Section 143(3)Section 148Section 50Section 72(1)Section 80P(2)(a)