THE COMMISSIONER OF INCOME-TAX, MADHYA PRADESH vs SETH KHUSHAL CHAND DAGA

The Supreme Court held that under Section 24(3) of the Income Tax Act, 1922, the computation of loss does not become final unless the Income Tax Officer notifies the amount in writing to the assessee. The Court ruled that the assessee is entitled to redetermine the loss in subsequent years even if no appeal was filed against the initial determination, as the lack of a written order precludes the filing of an appeal. The decision in Seth Jamnadas Daga v. The Commissioner of Income-tax was applied.