TMI BlogADVICE REQUIRED IN THIS MATTERX X X X Extracts X X X X X X X X Extracts X X X X ..... We have taken over management along with 52% shares of an unlisted public limited company during the AY 2005-06. At that time company is having business loss as well as depreciation loss. We have claimed business loss up to AY 10-11 and depreciation loss from 10-11 to AY 14-15. We have also claimed business loss, under MAT up to AY 13-14 and paid MAT from AY 14-15. During the AY 12-13 We have dem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olished a factory building by retaining only boundary wall and a security room, we have kept the building value of this retained portion in books. balance value which is loss on demolition on buildings at the tune of ₹ 84 lakhs adjusted in P L. After taking over the management we have got two assessment orders AY 06-07 AY 08-09 under section 143(3) with NIL arrears. In AY 12-13 we got an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other assessment order under section 143(3) but this time the officer denied the business loss during the previous management under section 79 and disallow the building demolition loss in this year. and we have got notice notice under section 142(1) for AY 08-09, 09-10,10-11, 11-12. Please advice. A chart a given below for the details of loss adjusted during these years Loss ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rried forward statement S.No Asst. year Business Depreciation Total Loss Loss Loss Profit Bal. Dep C/o 1 1996-97 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 6403979 6403979 Adj 2003-04 2739437 3664542 2 1997-98 209223 6116424 6325647 6116424 Adj 2004-05 209223 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 1998-99 18778042 15920338 34698380 15920338 Adj 2004-05 6216525 Adj 2005-06 9640860 Adj 2006-07 2920657 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4 1999-00 11444780 15856667 27301447 15856667 Adj 2006-07 2839538 Bal 8605242 Adj 2007-08 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2790126 5 2000-01 24241027 12113296 36354323 12113296 Adj 2008-09 2975139 6 2001-02 5621859 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9299851 14921710 9299851 Adj2009-10 4009864 7 2002-03 360357 7207753 7568110 1765800 Adj 2010-11 360357 5441953 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 64736918 8 2003-04 3088346 9 2004-05 6425748 10 2005-06 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9640860 11 2006-07 5706195 12 2007-08 2790126 13 2008-09 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2975139 14 2009-10 4009864 15 2010-11 5802310 -5441953 16 2011-12 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6904013 -6904013 17 2012-13 10533899 -10533899 18 2013-14 10361601 -10361601 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 19 2014-15 7577608 -7577608 23917844 - Reply By MARIAPPAN GOVINDARAJAN - The Reply = It is better to get the advice from the Chartered Accountants, who are experts in this area. - ADVICE REQUIRED IN THIS MATTER - Query Started By: - RAVIKUMAR DHANDHANIA Dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... :- 12-9-2015 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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