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2011 (3) TMI 578 - AT - Income TaxSet off and carry forward of losses - Revised return - In pursuance of amalgamation form 6 companies, assessee availed the benefit of carried forward loss and unabsorbed depreciation of three of the 6 amalgamating companies - In the revised computation of income filed by the Assessee along with letter dated 11-1- 2006 the claim for set off was restricted to Rs.13,60,59,096 comprising of Rs.4,56,28.025 being unabsorbed brought forward business loss and Rs.9,04,31,071 being unabsorbed depreciation - Therefore it is not correct to state that the Assessee did not make any claim before the AO - The fact that there was unabsorbed depreciation and loss as per annexure 11 to the Tax Audit report filed along with the return of income at Rs. 10,48,35,810 and Rs.4,56,28,025 respectively is not in dispute and the only aspect that ought to be considered is verification of details, which the AO has already done - Appeal is dismissed
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