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2019 (1) TMI 1338 - AT - Income TaxPenalty u/s 271(1)(c) - disallowance of long term capital loss claimed intra-head against short term capital gains - Held that:- We find that the AO has allowed the set off of brought forward long term capital loss and short term capital loss pertaining to the AY 2009-10 to the extent income available i.e. ₹ 5,46,720/-. The AO passed the penalty order on 30.07.2013. The Ld. CIT(A) passed the appellate order on 18.09.2017. Thereafter, the AO passed a rectification order u/s 154 on 06.11.2017 allowing the above set off of ₹ 5,46,720/-. Therefore, the penalty confirmed by the Ld. CIT(A) does not survive.- decided in favour of assessee
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