Right to set-off capital loss is a vested right not affected by amendment

IN THE ITAT MUMBAI BENCH ‘A’ (Special bench) Kotak Mahindra Capital Co. Ltd. V/s. Assistant Commissioner of Income-tax, Range 3(2) IT Appeal No. 521 (Mum.) of 2007 [Assessment year 2003-04] August 10, 2012 ORDER Per Bench This Special Bench has been constituted by the Hon’ble President to dispose off the appeal filed by the assessee in this case against the order of ld. CIT(A) III dated 09/11/2006 and to decide the following question of law arising from ground no.2 raised in the said appeal: “Whether the provisions of section 74 which deal with carry f...