Thursday, January 7, 2021

Set-off of losses couldn’t be denied just because assessment of year in which loss was suffered is pending

INCOME TAX : Where for assessment year 2014-15, assessee's books of account was rejected and assessee's claim of loss of Rs. 81 crores was declined but on appeal, Co-ordinate Bench of Tribunal remitted matter to Assessing Officer for framing assessment de novo,

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000197607/set-off-of-losses-couldn’t-be-denied-just-because-assessment-of-year-in-which-loss-was-suffered-is-pending.aspx

No comments:

Post a Comment

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...