Power of CIT(A) to allow set off of the losses during the course...
Supreme Court: CIT(A) Can Allow Loss Set-Off via Revised Computation, Not Restricted by Section 139(5) Revised Return Rule.
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Income TaxAugust 5, 2019Case LawsAT
Power of CIT(A) to allow set off of the losses during the course of assessment proceedings by way of revised computation instead of revised return u/s 139(5) - Supreme court decision restrict power of the assessing authority to entertain a claim for deduction otherwise than by a revised return and did not impinge on the powers of the appellate authority - CIT(A) rightly allowed the claim