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In case of set off of business loss vis-à-vis depreciation, first preference shall be given to business loss
Case Law Details
- Case Name
- Suresh Industries (P.) Ltd. Vs Assistant Commissioner of Income-tax (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2007-08
- Courts
- All ITAT, ITAT Mumbai
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IN THE ITAT MUMBAI BENCH ‘E’
Suresh Industries (P.) Ltd.
Versus
Assistant Commissioner of Income-tax
IT Appeal No. 5374 (Mum.) of 2011
[Assessment year 2007-08]
October 10, 2012
ORDER
N.K. Billaiya, Accountant Member
This appeal by the assessee is directed against the order of Ld. CIT(A)-13, Mumbai dt. 7.4.2011 pertaining to assessment year 2007-08.
2. The assessee has raised two substantive grounds of appeal as under:
“1. The Ld. CIT(A) has erred in law and on the facts of the case in confirming the action of the AO in not allowing current year’s dep...
