Tag: set off

Set off of STCG loss with STCG allowed despite the assessee had not claimed it in his return of income nor filed revised return ABCAUS Case Law Citation:ABCAUS 3133 (2019) (09) ITAT Important case law relied upon by the parties:Goetze (India) Ltd., vs. CIT 284 ITR 323 (SC)CIT …

Under section 71 assessee have option to set off losses against capital gains and the set off is not mandatory as revealed by legislative history – ITAT  ABCAUS Case Law Citation: ABCAUS 2592 (2018) (10) ITAT Important Case Laws Cited/relied upon: Coated Fabrics (P) Ltd. vs JCIT’ 285 …

Interest earned on share application money kept in fixed deposit was liable to be set off against the public issue expenses-Supreme Court The question for consideration was whether in the facts and circumstances of the case, interest accrued on account of deposit of share application money was taxable …

Reassessment upheld for non disclosure of Interest income set off against interest on loans and advances when production was not commenced ABCAUS Case Law Citation: ABCAUS 2262 (2018) (03) HC The appellant Revenue was aggrieved by the order of the first appellate authority and the Income Tax Appellate …