Case Law Details
Case Name : Gouranga Cement Pvt. Ltd. Vs DCIT (ITAT Kolkata)
Related Assessment Year : 2010-11
Courts :
All ITAT ITAT Kolkata
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Gouranga Cement Pvt. Ltd. Vs DCIT (ITAT Kolkata)
We have heard the rival contentions and perused the material available on record. In the instant case the assessee has shown business income of ₹13,36,761/- and LTCG income of ₹86,30,498/- only. Besides the above assessee has shown unabsorbed brought forward business loss of ₹16,64,542/- which was set off against the business income to the extent of ₹13,36,761/- by the assessee. The assessee has offered the tax on LTCG at special rate @ of Rs. 20% for Rs. 17,26,100.00 (20% of Rs.
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