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2021 (3) TMI 390 - AT - Income TaxSet off the unabsorbed depreciation/business loss of the assessee incurred during the year and/or brought forward from previous years with the addition made u/s 68 - HELD THAT:- As the assessee has submitted that in the light of the Circular No.11/2019 dated 19.06.2019 the assessee may be given benefit of set off of income determined u/s 68 of the Act against unabsorbed loss as the assessment years involved in these appeals are 2013-14 and 2014-15 which are prior to assessment year 2017-18. The ld. Departmental Representative has also fairly agreed that the assessee is entitled to the set off of income against losses as per the above CBDT Circular. These grounds of the appeals of the assessee are hereby allowed and the Assessing Officer is directed to give the benefit of set off of losses against income determined for the assessment year under consideration as per the aforesaid CBDT Circular.
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