ASIAN EARTH MOVERS,BELLARY vs. INCOME TAX OFFICER, WARD 1 & TPS, BELLARY
In the result, the appeal is allowed for statistical purposes
ITA 136/BANG/2024[2018-19]Status: DisposedITAT Bangalore24 Sept 2024AY 2018-19
Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubeyassessment Year : 2018-19
For Appellant: Shri B.S. Balachandran, AdvocateFor Respondent: Shri V. Parithivel, Jt. CIT(DR)(ITAT), Bengaluru
Section 139(1)Section 144BSection 147Section 148Section 234ASection 249(4)Section 270ASection 272A(1)(d)
section 144B of the Act.
5. The Learned AO erred in computing the capital gain as short-term capital gain without reducing the cost of acquisition and constructing artificial liability to tax.
6. The Learned AO erred in determining the total income at Rs.
67,16,348/- WITHOUT setting off the brought forward business loss and unabsorbed depreciation
