Which item is not subject to section 121’s timely-return condition for carry-forward?

Section 121 of the Income-tax Act, 2025 bars carry-forward of losses under sections 111(1), 112(1), 113(2), 114(2) and 115(2), which include business and capital losses, unless the loss was determined on a return filed by the due date under section 263(1). Unabsorbed depreciation is carried forward under section 33(11) and is not covered by that condition.