ITAT Restores Case on ₹52 Lakh Capital Loss for Fresh Decision

Vardhaman Vasundhara Family Trust Vs ITO (ITAT Pune) Income Tax Appellate Tribunal (ITAT), Pune bench, has set aside an order by the Additional/Joint Commissioner of Income Tax (Appeals)-1, Siliguri, in the case of Vardhaman Vasundhara Family Trust versus the Income Tax Officer. The Tribunal, in its order pronounced on June 27, 2025, directed the appellate authority to re-adjudicate the matter on merits, citing a failure to address the core issue of set-off of brought forward capital loss and a violation of the statutory mandate for passing a speaking order. The decision underscores the critic...