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2014 (2) TMI 1309 - AT - Income TaxSet off of business loss against the addition u/s.68 disallowed - Held that:- The decision of the Hon’ble Gujarat High Court in the case of CIT Vs. Shilpa Dyeing & Printing Mills P. Ltd., (2015 (7) TMI 691 - GUJARAT HIGH COURT) is applicable to the facts of the case of the assessee. In this case, the decision of the Hon’ble Gujarat High Court in the case of Fakir Mohamed Haji Hasan (2000 (8) TMI 44 - GUJARAT High Court ) was also discussed. In this case it was held that once loss is determined, the same should be set off against the income determined under any other head of income including undisclosed income. Respectfully following the decision of the Hon’ble Gujarat High Court in the case of CIT Vs. Shilpa Dyeing & Printing Mills P. Ltd., (supra), the issue is decided in favour of the assessee
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