KARAN MEHTA,KOLKATA vs. DCIT, CIRCLE 29.1,, KOLKATA

ITA 3057/KOL/2025Status: DisposedITAT Kolkata20 July 2026AY 2018-201911 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the appeal was not maintainable as the assessment order under section 143(3) did not modify the intimation under section 143(1). The disallowance of set-off of short-term capital loss was based on the fact that the returns were filed belatedly, making the claim ineligible for set-off as per Section 80 of the Act.

What were the facts?

The assessee filed a belated original return and a revised return beyond the due date. The Assessing Officer disallowed the set-off of short-term capital loss against short-term capital gains. The CIT(A) upheld this disallowance, stating losses claimed in belated returns are not eligible for set-off or carry-forward.

What were the issues?

Whether short-term capital loss can be set off against short-term capital gains when the original and revised returns are filed belatedly. Whether the appeal is maintainable when the assessment order under section 143(3) does not modify the intimation under section 143(1).

Which sections of the Income-tax Act were involved?

Section 70,Section 74,Section 80,Section 139(1),Section 139(4),Section 143(1),Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘B’ BENCH AT KOLKATA

Before: SHRI YOGESH KUMAR US & SHRI RAKESH MISHRA

PER RAKESH MISHRA, ACCOUNTANT MEMBER:

This appeal filed by the assessee is against the order of the Commissioner of Income Tax (Appeals)-NFAC, Delhi [hereinafter referred to as Ld. 'CIT(A)'] passed u/s 250 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) for AY 2018-19 dated 28.10.2025. 2. The assessee is in appeal before the Tribunal raising the following grounds of appeal:

"

1.

For that on the facts and in the circumstances of the case, the Ld. CIT(A) ought to have allowed adjustment of Short-Term Capital Loss (STCL) of Rs. 11,55,130/- against Short Term Capital Gains of Rs. 10,03,290/- and directed A.O to allow carry forward of balance short-term capital loss of

The order continues below.

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