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2014 (9) TMI 786 - HC - Income TaxComputation of undisclosed income of the block period u/s 158BB – Held that:- The record is not clear as to whether there existed any unabsorbed loss or carried forward depreciation, that spilled over the block period of the assessee - If there exists any such components, they are not liable to be adjusted - If, on the other hand, the losses or depreciations are those which are referable to the block period, they are liable to be worked out, as though it is a regular assessment which, in fact, is a mandate u/s 158BH of the Act – direction has been made to pass the consequential order keeping in view the aspects pointed by the court – Decided in favour of assessee.
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