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2021 (3) TMI 623 - AT - Income TaxSet-off of carried forward business losses against short term capital gain raised by selling of capital assets which were not converted into stock-in-trade and computed as per section 50C in view of provisions of section 72 - HELD THAT:- Following the precedents HICKSON & DADAJEE PVT. LTD. VERSUS ACIT (5) (1) , MUMBAI [2014 (2) TMI 1293 - ITAT MUMBAI] and EVERSHINE PHARMACEUTICALS DISTRIBUTORS PVT. LTD. [2012 (8) TMI 1188 - ITAT MUMBAI] CIT(A) held that the ground of appeal is allowed and AO is directed to grant set off of carry forward loss after verification of records. Against this order the Revenue is in appeal before us. We have heard learned Departmental Representative and perused the record. We agree with the finding of learned CIT(A) that the issue is covered in favour of the assessee by the Tribunal decision cited there. Hence, we uphold the order of learned CIT(A). Revenue’s appeal is dismissed.
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