Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights February 2022 Year 2022 This

Disallowing set off of losses claimed by the appellant set-off ...

Income Tax

February 1, 2022

Disallowing set off of losses claimed by the appellant set-off of business losses and carried forward losses against the undisclosed income - We are of the view according to the CBDT Circular No. 11 of 2019 business losses and brought forward losses can be set-off against the income assessed under section 115BBE - AT

View Source

 


 

You may also like:

  1. Set off of brought forward business loss - mistakes in previous years for not claiming benefit of set-off - 8 years time limit provided in the statute - The ITAT found...

  2. Incorrect set off of brought forward business loss and unabsorbed depreciation - The working of the Ld. AO contains the mistakes as they are not in consonance with the...

  3. Disallowance u/s 14A - Carry forward of business loss – setting off carry forward business losses now depends on the finality of the addition made by Assessing Officer...

  4. Disallowance of setting off of the carried forward loss - return filed beyond the due date specified under subsection (1) of section 139 - It was argued that the delay...

  5. Set off of brought forward business loss against income from other sources - As provision of section 72 are very clear that brought forward business loss can only be set...

  6. Set off the business losses against the capital gains u/s 71 - The assessee in the return of income did not set off the business loss against the short term capital gain....

  7. Set off of loss brought forward losses - conditions of 51% shareholding - the assessee is not seeking carry forward of losses to be set off but the assessee is seeking...

  8. B/F losses not allowed to be carry forward - There is, in our opinion, no practical efficacy in the assessee carrying forward business losses, unabsorbed depreciation,...

  9. Non setting off carried forward business loss against the Capital Gain computed u/s 50 - sale of depreciable assets - legal fiction is to be deemed the capital gain as...

  10. Carry forward of unabsorbed business depreciation as per computation of income filed alongwith original return u/s 139(1) - Business loss set off against income from...

  11. Disallowance of carry forward of loss - Since no claim of set off of loss is made by the assessee in this year the action of AO in rejecting to allow carry forwarded is...

  12. Set off of carried forward Business losses against the Short Term Capital Gains u/s 72 - the gain on sale of office premises represents profits of business - the brought...

  13. Capital gains on sale of capital assets is not to be set off against the brought forward loss of earlier years. Only the business loss can be carried forward u/s 72 of...

  14. Only the business loss can be carried forward u/s 72 of the Act and it can also be set off only against the business income of the assessee. In present case, assets sold...

  15. Relief to start-ups in carrying forward and setting off of losses - Relaxation in 51% holding of shares for the purpose of carry forward of losses of eligible star-up...

 

Quick Updates:Latest Updates