No reassessment allowed just to disallow set-off of STCG from business loss if it was allowed in original assessment : HC

INCOME TAX : Where while computing deduction under section 10AA there was no failure on part of assessee to disclose fully and truly fact that capital gains of Rs. 9.42 crores had been deducted against business losses and during assessment proceedings, Assessing Officer had himself allowed set off of Rs. 9.42 crores, reopening of assessment on above ground was not justified

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