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Income Tax - Highlights / Catch Notes

Home Highlights September 2013 Year 2013 This

Excessive carry-forward loss – If the A.O. was of the opinion ...


Assessing Officer Must Correct Excess Capital Loss in Year Claimed, Not During Set-Off Year.

September 27, 2013

Case Laws     Income Tax     HC

Excessive carry-forward loss – If the A.O. was of the opinion that the capital loss has been determined in excess wrongly, then he should have taken action to determine the correct loss in the relevant year where such loss has been claimed and determined and he should not have reduced such loss in which only set off was claimed - HC

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