Section 157

Intimation of loss.

157.   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, ⁵⁸[sub-section (1) ⁵⁹ [or sub-section (3)] of section 74 or sub-section (3) of section 74A], the ⁶⁰[Assessing] Officer 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, ^60a[sub-section (1) ^60b [or sub-section (3)] of section 74 or sub-section (3) of section 74A].