ITAT states that, the assessee filed return beyond the due date prescribed under section 139(1) of the Act. In the return of income the assessee has declared loss and unabsorbed depreciation. As per the provision of section 139(3) to carry forward business loss under section 72(1), assessee should have filed its return of income in time allowed under section 139(1) of the Act. However, the above condition does not apply in case of unabsorbed depreciation in view of the provision of section 32(2) of the Act. The ld Assessing Officer has correctly held that business loss is not allowable to be carried forward and has allowed only unabsorbed depreciation to be carried forward. The ld CIT (A) clearly referred to the provision of section 80 also The ld CIT (A) has also upheld the same view. In view of this, we do not find any infirmity in the order of the ld CIT (A) on this issue. Accordingly, the appeal raised by the Assessing Officer are dismissed. (Related Assessment Year : 2012-13) – [Addl. CIT v. Nortel Networks India (P) Ltd Date of Judgement : 23.07.2020 (ITAT Delhi)]