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2014 (2) TMI 1379 - AT - Income TaxSet off of the carried forwarded capital loss against the current year long term capital gain - HELD THAT:- The assessee mentioned that these issues stand covered in favour of the assessee by virtue of the judgment of Ace Builders P. Ltd. [2005 (3) TMI 36 - BOMBAY HIGH COURT] and many other decisions of this Tribunal such as (1) Geetanjali Traing Ltd[2013 (3) TMI 194 - ITAT MUMBAI] and Manali Investments [2011 (4) TMI 116 - ITAT MUMBAI] - Some of these decisions were not available to the AO / CIT (A) at the appropriate point of time. Therefore, in our considered opinion, the issue should be remanded to the files of the CIT (A) with a direction to examine the applicability of the said decisions to the facts of the present case and decide the grounds. MAT Computation - provisions for diminution of the value of investment constitutes an allowable deduction for the purpose of computing the book profits or not? - HELD THAT:- As assessee says issue stands covered by the decision of the ITAT, Kolkata Bench in the case of DCIT vs. Mcleod Russel India Ltd [2013 (4) TMI 315 - ITAT KOLKATA] direct the CIT (A) to examine the said decision and decide the claim of the assessee. Appeal treated as allowed for statistical purposes.
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