Section 66(6) in Karnataka Agricultural Income-Tax Act, 1957
(6)[ Where any person permitted to pay tax under sub-section (1) re-opts to pay tax in accordance with section 3 after the expiry of the period [xxx] [Sub-section (6), (7), (8) and (9) inserted by Act 18 of 1994 w.e.f. 1.4.1994.] for which permission was granted under sub-section (4), then notwithstanding anything contained in the Act. Such person shall be assessed as if it were a new assessment and shall not be eligible to carry forward any loss or unabsorbed depreciation of any of the previous years.
