Tuesday, August 28, 2018

No denial of brought forward loss in absence of any incriminating finding related to exp. claimed as deduction

IT: Where in response to notice under sec. 153A assessee filed returns claiming set-off of brought forward loss which was rejected on ground that various expenses claimed in those returns were not verifiable, in view of fact that no incriminating material was found in course of search relating to those expenses, claim raised by assessee was to be allowed

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