Revision u/s 263 by CIT - set off of brought forward business ...

Income Tax

April 20, 2022

Revision u/s 263 by CIT - set off of brought forward business loss from the income assessable under the head 'Capital Gain' - gain of depreciable assets by entering into long term lease agreement - the loss assessed under the head ‘Profits & Gains of Business or Profession’ in the preceding years and brought forward to the relevant year had been rightly claimed as set off against the profits or gain derived from long term leases assessed under the head 'Short Term Capital Gain'. - AT

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Revision u/s 263 by CIT - set off of brought forward business ...

Income Tax

April 20, 2022

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