ISHAR INFRASTRUCTURE DEVELPOPERS PRIVATE LIMITED,BATHINDA vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, BATHINDA
In the result, the appeal of the assessee is allowed for statistical purposes
ITA 686/ASR/2024[2022-23]Status: DisposedITAT Amritsar28 Aug 2025AY 2022-23
Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta(Hybrid Hearing) I.T.A. No. 686/Asr/2024 Assessment Year: 2022-23
Section 139(1)Section 143(1)Section 250Section 32(2)Section 72Section 72(3)
disallowed the claim of brought forward loss to be set-off against the current business income of Rs.34,48,171/-, and determined the assessed income at Rs.34.63 lakhs u/s 143(1) ignoring the provisions of section 72(3) of the Act, where by unabsorbed business losses (other than the speculative losses) are to be carried