Case Law Details
Ducere Technologies Private Limited Vs DCIT (ITAT Hyderabad)
Since the assessee is a company as is established by the 143(1) intimation, question of assessing its income under the head ‘salary’ does not arise. Impugned order is, therefore, liable to be set aside. The aspect of availability of brought forward losses needs verification at the end of the Learned Assessing Officer, for the purpose of considering the set-off against current year income.
ITAT therefore, restore the issue to the file of the Learned Assessing Officer to verify the availability of brought forward losses for the purpose of setting-off the current year income against such losses. Grounds are accordingly treated as allowed for statistical purposes.
FULL TEXT OF THE ORDER OF ITAT HYDERABAD
Aggrieved by the order dated 09/09/2022 passed by the learned Commissioner of Income Tax (Appeals)-National Faceless Appeal Centre (NFAC), Delhi (“Ld. CIT(A)”), in the case of Ducere Technologies Private Limited (“the assessee”) for the assessment year 2020-21, assessee preferred this appeal.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
