- When, in the course of the assessment of the total income of any assessee, it is established that a loss has taken place which the assessee is entitled to have carried forward and set off under the provisions of sub-section (1) of section 72, sub-section (2) of section 73 [, [sub-section (1) or sub-section (3) of section 74] [Substituted by Act 11 of 1987, Section 74, for " sub-Section (1) of section 74" (w.e.f. 1.4.1988).][or sub-section (3) of section 74-A] [Substituted by Act 11 of 1987, Section 74, for " sub-Section (1) of section 74" (w.e.f. 1.4.1988).], the [Assessing Officer] [ Substituted by Act 4 of 1988, Section 2, for " Income-tax Officer" (w.e.f. 1.4.1988).] shall notify to the assessee by an order in writing the amount of the loss as computed by him for the purposes of sub-section (1) of section 72, sub-section (2) of section 73 [, [sub-section (1) or sub-section (3) of section 74] [Substituted by Act 11 of 1987, Section 74, for " sub-Section (1) of section 74" (w.e.f. 1.4.1988).][or sub-section (3) of section 74-A] [Substituted by Act 11 of 1987, Section 74, for " sub-Section (1) of section 74" (w.e.f. 1.4.1988).][ Inserted by Act 19 of 1978, Section 19 (w.r.e.f. 1.4.1974).].
