TMI Blog2023 (12) TMI 1089X X X X Extracts X X X X X X X X Extracts X X X X ..... s for set off or carry forward in the subsequent years. Same has been taken into consideration by Ld. CIT(A) while passing the direction in the impugned order. The appeal has no merit. Same is dismissed. - Sh. G.S.Pannu, Hon ble Vice President And Sh. Anubhav Sharma, Judicial Member For the Assessee : Sh. Prabhat Lath, Ar Sh. Ashish Garg, CA For the Revenue : Shri Vivek Vardhan, Sr. DR ORDER PER ANUBHAV SHARMA, JM: The appeal has been preferred by the Revenue against order dated 14.02.2019 in appeal no. 107/18-19/1135 for assessment year 2009-10 passed by Commissioner of Income Tax (Appeals)-28, New Delhi (hereinafter referred to as the First Appellate Authority in short Ld. F.A.A. ) in appeal against assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es and additions on account of deemed dividend. A copy of the order is attached herewith as Annexure 1. The above order has the effect of reinstating the loss of the assessee back to INR 4,92,05,810/- of the Act. In view of the aforesaid, it is evident that the Assessee is eligible to set off the income of AY 2009-10 against the brought forward business losses from AY 2008-09 to the extent of loss of INR 4,92,05,810/-. In view of the above, it is humbly submitted before your Honour that the impugned rectification order passed by the Ld. AO is incorrect as the loss of AY 2008-09 has been reinstated to the extent of INR 4,92,05,810/-. Pursuant to the favourable decision of the Hon'ble IT AT and subsequent appeal effect order by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .Y. 2008-09. 2. The appellant craves, leave or reserving right to amend modify, alter, add of forego any ground(s) of appeal at any time before or during the hearing of this appeal. 4. It can be appreciated that consequent to the order of the Tribunal however, for A.Y. 2008-09 (at page no. 28 to 42 of PB) the effect giving order was passed by Ld. AO on 12.12.2018 (available at page no. 43 of PB) by which the total loss for A.Y. 2008-09 was recomputed at Rs. 4,92,05,810/- . That thus made available loss for set off or carry forward in the subsequent years. Same has been taken into consideration by Ld. CIT(A) while passing the direction in the impugned order. The appeal has no merit. Same is dismissed. Order pronounced in the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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