SUMITRA SOMANI,MUMBAI vs. ASSESSING OFFICER, MUMBAI

ITA 1172/MUM/2026Status: DisposedITAT Mumbai11 June 2026AY 2016-1711 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal condoned the delay in filing the appeal, finding that the assessee had bona fide pursued rectification proceedings. On merits, the Tribunal held that the denial of set-off of short-term capital loss against long-term capital gains was unjustified and contrary to Section 70(2) of the Act.

What were the facts?

The assessee filed a revised return for AY 2016-17, which was processed under section 143(1). The CPC denied the set-off of short-term capital loss against long-term capital gains, which had been allowed in the original return's intimation. The assessee pursued rectification proceedings and then filed an appeal before the CIT(A) after a significant delay.

What were the issues?

Whether the delay in filing the appeal before the CIT(A) should be condoned, and whether the denial of set-off of short-term capital loss against long-term capital gains was legally sustainable.

Which sections of the Income-tax Act were involved?

Section 143(1),Section 250,Section 154,Section 249(3),Section 70(2)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH MUMBAI

For Appellant: Shri C. V. Jain, Ld. AR
For Respondent: Shri Vijay Kumar Soni, Ld. DR
Hearing: 10.06.2026Pronounced: 11.06.2026

PER MAKARAND VASANT MAHADEOKAR, AM: This appeal by the assessee is directed against the order dated 16.01.2026 passed by the Addl./JCIT(A), Raipur, Office of Commissioner of Income Tax, Appeals [hereinafter referred to as "CIT(A)"]under section 250 of the Income-tax Act, 1961 [hereinafter referred to as "the Act"]for Assessment Year 2016-17

2 Sumitra Somani arising from the intimation issued under section 143(1) of the Act dated 26.03.2018. 2. The assessee has raised the following effective grounds of appeal:

1.

On the facts, in the circumstances of the case and in law, the Ld. CIT(A) has erred in dismissing the appeal in limine on the ground of limitation, without appreciating the fact that the appel

The order continues below.

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