Section 22(3) of the Indian Income-tax Act, 1922

Section 22(3) of the Indian Income-tax Act, 1922 — the law in short

What the courts have decided on section 22(3) of the Indian Income-tax Act, 1922, in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.

• CIT v Kulu Valley Transport Co (P) Ltd Supreme CourtHelps taxpayer
  I filed a return showing a loss after the due date but before any assessment was made. Can the officer refuse to determine the loss and refuse to let me carry it forward?
  No, on the 1922 Act. By a majority the Supreme Court held that a voluntary loss return filed at any time before the assessment is a good return which the Income-tax Officer cannot ignore, and the loss must be determined and carried forward. Section 22(1) is to be read with section 22(3), which is in effect a proviso to it, so a return filed within the time in section 22(3) is filed within the time prescribed and the condition in section 22(2A) is satisfied. Shah, J dissented, holding that reading it that way makes section 22(2A) otiose.

Listed strongest first: Supreme Court, then High Court, then Tribunal, then CBDT. Nothing here has yet been read in full by a chartered accountant — open an entry to see where it came from.