Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

Block assessment - section 158BB(4) - set off of the loss ...


Taxpayers Can Offset Losses Against Income in Block Period u/s 158BB(4) Interpretation.

November 23, 2013

Case Laws     Income Tax     HC

Block assessment - section 158BB(4) - set off of the loss suffered in any of the previous year in the block period against the income assessed in other previous years in the block period is not prohibited - HC

View Source

 


 

You may also like:

  1. Block assessment - computation of undisclosed income of block period under Section 158BB - Reliance on material gathered in the course of survey - the Tribunal set aside...

  2. ITAT ruled on long-term capital gains from unlisted shares under India-Mauritius DTAA, specifically addressing loss carry-forward without offsetting against capital...

  3. Block Assessment - Set off or carry forward of loss for p/y years from the undisclosed income determined during Search - It is clear that in computing the total income...

  4. Addition of undisclosed income of the block period u/s 158BB - non-filing of the return for the assessment year 1995-96 on the ground that after allowing the deduction...

  5. Introduction of block assessment provisions in cases of search u/s 132 and requisition u/s 132A for early finalization of search assessments, coordinated investigation,...

  6. Block assessment u/s 158BC - Claim for loss on house property as set off against income computed for the block period - the assessee is entitled to make such claim even...

  7. HC quashed order relating to Input Tax Credit (ITC) claims that were time-barred under Section 16(4) of CGST Act but fell within limitation under Section 16(5)....

  8. Unexplained investments u/s 69- Tribunal deleted the addition - The term assessed being flexible, it bears very comprehensive meaning. Therefore, under Section 158BB of...

  9. Depreciation disallowed on the reason that 4 trademarks have been included in the block of assets are not put to use - in relation to block of assets, it is not possible...

  10. HC quashed assessment order concerning Input Tax Credit (ITC) claims under GST regime. The matter involved interpretation of limitation periods under Section 16(4) and...

  11. TP Adjustment - When foreign exchange loss is to form part of the total base of the taxpayer for the purpose of charging a mark up to its AEs as it drives income from...

  12. ITAT ruled that capital gains from shares acquired before 01/04/2017 by a Mauritius resident are exempt under India-Mauritius DTAA Article 13(3)/(4), being taxable only...

  13. Charging interest u/s. 234B(3) / (4) - The section 234B(4) states that if there is any increase or decrease in the income, correspondingly interest shall be increased or...

  14. Prior period expenditure - when prior period income is taxed prior period expenditure cannot be disallowed - AT

  15. Penalty proceedings u/s. 270A for underreporting of income - claim of excessive loss - Since, the assessee has neither claimed any benefit of loss against any other...

 

Quick Updates:Latest Updates