Loss suffered by the assessee in respect of alleged unrecorded ...

Case Laws Income Tax

September 24, 2020

Loss suffered by the assessee in respect of alleged unrecorded transactions - denial of set off against declared profit by wrongly invoking sec. 115BBE - - Amendment takes effect from 1st of April, 2017 and will, accordingly, apply from assessment year 2017-18 and subsequent assessment years. Accordingly, we hold that the assessee current loss is allowable to set off against the current year income. - AT

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Loss suffered by the assessee in respect of alleged unrecorded ...

Case Laws Income Tax

September 24, 2020

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