Case Law Details
Case Name : Sh. Ajay Kumar Singhania Vs DCIT (ITAT Chandigarh)
Related Assessment Year : 2016-17
Courts :
ITAT Chandigarh
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Sh. Ajay Kumar Singhania Vs DCIT (ITAT Chandigarh)
The sole issue involved in this appeal is as to whether under the provisions of section 71 of the Income-tax Act, 1961 (in short ‘the Act’) there is an option to the assessee to set off the business losses against the capital gains or is it mandatory to do so.
The brief fa
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i want to sale a piece of land acquired 20 yrs back.
in the same firm i have accumulated as well current year business losses.
can the gain on sale of land can be adjusted with above losses?
whether i dont take indexing benefit for the land?
pl suggest.
regards