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Before 01.04.2017 assessee can set off loss against Section 115BBE income
Case Law Details
- Case Name
- Heera Kerala Developers Pvt. Ltd. Vs ACIT (ITAT Cochin)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Cochin
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Heera Kerala Developers Pvt. Ltd. Vs ACIT (ITAT Cochin)
After hearing the rival submissions we observe from the assessment order passed under Section 143(3) of the Act that there was an addition made by the AO under Section 68 of the Act to the tune of Rs.71,66,000/-which has been set off from the returned loss of Rs.53,25,931/-. The order of the learned PCIT has been passed on 30.01.2019 for exercising his power under Section 263 of the Act. The CBDT has issued Circular No. 11/2019 dated the 19th of June, 2019 in regard to setting off of loss against deemed income under Section 115BBE of th...
