Long-term capital loss u/s 50B allowed as Form 3CEA filed during assessment proceeding

Wellman Coke India Limited Vs DCIT (ITAT Kolkata)

ITAT Kolkata held that rejection of claim of long-term capital loss u/s 50B of the Income Tax Act unjustified as Form 3CEA filed during the assessment proceedings along with an affidavit mentioning reason for non-furnishing of Form 3CEA with return of income.

Facts- The assessee is a Limited Company and its case was selected for complete scrutiny assessment under the E-assessment Scheme, 2019 on the issue of Please become a Premium member. If you are already a Premium member, login here to access the full content.