CPC Wrongly Disallows Loss Carry-Forward: ITAT Confirms Extended Due Date for Companies with International Transactions

The ITAT confirmed the extended due date for companies with international transactions and noted that the CPC wrongly disallowed loss carry forward. This decision clarifies the rules related to loss carry forward for companies with international transactions. The ITAT's ruling protects the rights of taxpayers and ensures proper application of tax laws. This highlights the importance of understanding specific provisions for international transactions.