2017 (2) TMI 1321

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..... - This appeal has been filed by the assessee against the order of the Commissioner of Income-Tax (Appeals)-XVI, Ahmedabad dated 27.05.2011 for Assessment Year 2008-09. 2. The grounds taken by the assessee read as under: 1. The  Assessing Order passed by learned Assessing Officer (addl. Commissioner of Income Tax, Circle- 11) u/s 143 (3) of the IT Act is bad in law, illegal and deserves t .....

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..... al income at Rs. 2,46,55,364/- by making following disallowance/additions, which are confirmed by the ld. CIT(A) in further appeal. i) Deduction u/s 54 of the Act - Rs. 36,85,222/- ii) Set off of brought forward capital loss - Rs. 55,91,510/- 4. Aggrieved by the order of ld. CIT(A), the assessee is in second appeal before the Tribunal. 5. Before us, the ld. Counsel for the assessee contends .....

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..... already been placed before the lower authorities. 6. The ld. Departmental Representative, on the other hand, supported the orders of the authorities below. 7. We have heard the rival contentions, perused the material available on record and gone through the orders of the authorities below. Ground No.1 is general in nature. With regard to ground No.2 regarding the disallowance of the exemption o .....

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..... ities or before us for the contention that the Farm House was used as a residential house. Moreover, the ld. Counsel for the assessee could not establish as to whether any income was earned from the aforesaid farm house which was being assessed as 'income from house property'. Thus, in our considered view, there is no infirmity in the order of ld. CIT(A) in this regard and the Ground No.2 of the a .....

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..... he order passed u/s 143(3) of the Act before the Assessing Officer and therefore, the set off of carried forward Long Term Capital Loss was not allowable to the assessee. Thus, we do not find any infirmity in the order of ld. CIT(A) which is upheld and this ground of the assessee's appeal is also dismissed. 8. In the result, the appeal filed by the assessee is dismissed. Order pronounced in the .....

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