Home Highlights November 2013 Year 2013 This

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1. Incorrect set off of brought forward business loss and unabsorbed depreciation - The working of the Ld. AO contains the mistakes as they are not in consonance with the...

2. Set off of brought forward business loss - mistakes in previous years for not claiming benefit of set-off - 8 years time limit provided in the statute - The ITAT found...

3. Set off of brought forward losses denied - change in the shareholding pattern of the assessee post merger - Considering the fact that the assessee is a subsidiary of...

4. Carry forward and set off of losses - the status of the company was “closely held company”, i. e. , a company in which public is not substantially interested, when the...

5. Set off of brought forward business loss against income from other sources - As provision of section 72 are very clear that brought forward business loss can only be set...

6. Set off of loss brought forward losses - conditions of 51% shareholding - the assessee is not seeking carry forward of losses to be set off but the assessee is seeking...

7. Revised return filed beyond the permissible date - Set off of brought forward business loss and unabsorbed depreciation of amalgamating company - revised return...

8. Disallowing set off of losses claimed by the appellant set-off of business losses and carried forward losses against the undisclosed income - We are of the view...

9. Set off of current year business loss against foreign dividend income - levy of tax u/s 115BBD on gross foreign dividend income - assessee would be entitled for set off...

10. Set off/ adjustment and carry forward of accumulated losses and unabsorbed depreciation of the demerged company - In the instant case, all the conditions stated in...

11. Carry forward of investment allowance - unabsorbed depreciation of Amalgamating Company - Section 72A - Claim allowed - HC

12. Non setting off carried forward business loss against the Capital Gain computed u/s 50 - sale of depreciable assets - legal fiction is to be deemed the capital gain as...

13. Revision u/s 263 by CIT - set off of the brought forward "non-speculative business loss" against the "profit of speculative business" - provisions of section 72 and 73,...

14. Disallowance of setting off of the carried forward loss - return filed beyond the due date specified under subsection (1) of section 139 - It was argued that the delay...

15. Disallowance u/s 14A - Carry forward of business loss – setting off carry forward business losses now depends on the finality of the addition made by Assessing Officer...