TMI Blog2023 (5) TMI 1259X X X X Extracts X X X X X X X X Extracts X X X X ..... claimed as short-term capital loss - HELD THAT:- Since, in the case of the assessee, the original return u/s 139(1) for the year under consideration was filed on 17.10.2016, however, due to search action at the premises of the assessee on 30.11.2017, the assessment for the year under consideration got abated and consequently notice u/s 153A was issued. In the return of income filed u/s 153A, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue back to the file of the AO for examining the computation of claim of loss sought to be carried forward by the assessee - Ground of appeal of the assessee allowed for statistical purpose. - SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) For the Assessee : Mr. Madhur Agrawal, Mr. Manan Mathuria AR For the Revenue : Mr. Chetan Kacha, CIT-DR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... return u/s 153A of the Act, which has been further revised and claimed as short-term capital loss, should be allowed to carry forward to subsequent years or not. The assessee is entitled for carry forward of the loss if return of income claiming said loss is filed within the due date prescribed u/s 139(1) of the Act. Further, we find that Hon ble Jurisdictional High Court in the case of JSW Steel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... said return was revised and the assessee claimed that since shares of Intime Properties Ltd. held only for the period of 35 months and therefore, loss of Rs.57,74,866/- arising from the same of those shares was in the nature of the short-term capital loss. In view of the decision of the Hon ble Supreme Court in the case of JSW Still Ltd. (supra), the return claiming the loss has been filed in ter ..... X X X X Extracts X X X X X X X X Extracts X X X X
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