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Case Law Details

Case Name : ITO Vs M/s Smart Sensors & Transducers Ltd. (ITAT Mumbai)
Related Assessment Year : 2011-12
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ITO Vs M/s Smart Sensors & Transducers Ltd. (ITAT Mumbai)

As regards to set off of business loss against gain on sale of depreciable asset of factory building by the assessee, we find that the co-ordinate Bench of the Tribunal in the case of M/s. Raj Shree Roadlines vs ITO (ITA No.1627/Mum/2012) for A.Y . 2007-08 has considered the issue of business loss of unabsorbed depreciation and eligible business loss can be set off against short term capital gain computed under section.50 of the Act. We find that the Tribunal afte

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