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Case Law Details

Case Name : Plus Paper Food Pac Ltd. Vs Income Tax Officer & Anr (Bombay High Court)
Related Assessment Year :
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Brief about the case

The Assessing Officer had issued notice u/s 148 of IT act to reopen the assessment giving reasons to believe that assessee’s claim for set off of brought forward unabsorbed depreciation against long term capital gain was not allowable as it was being set off after a lapse of 8 years.

According to the assessee, it had disclosed all material facts fully and truly, in the course of assessment proceedings including all long term capital gains,

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