M/S. TAMIL NADU INDUSTRIAL DEVELOPMENT CORPOR,CHENNAI vs. ACIT,, CHENNAI
In the result, the appeal of the assessee is partly allowed
ITA 1181/CHNY/2008[2003-04]Status: DisposedITAT Chennai28 Feb 2020AY 2003-04
Bench: Mahavir Singh & Shri M. Balaganeshआयकर अपील सं./I.T.A.No.1181/Chny/2008 ("नधा"रण वष" / Assessment Year: 2003-04) M/S. Tamilnadu Industrial Vs The Acit, Development Corporation Limited, Company Circle – Iii(1), 19-A, Rukmini Lakshmipathy Salai, Chennai – 34. Egmore, Chennai – 600 008. Pan: Aaact3409P (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri R. Vijayaraghavan, Advocate ""यथ" क" ओर से/Respondent By : Shri Abani Kanta Nayak, Cit
For Appellant: Shri R. Vijayaraghavan, AdvocateFor Respondent: Shri Abani Kanta Nayak, CIT
Section 11Section 115JSection 263
Capital Gain -
(-) Rs.1,73,74,551/- iv) Income from other sources -
Rs.6,13,81,287/-
Gross Total Income before set off
Rs.1,46,76,023/- of Brought Forward loss
The Ld.AO had adjusted the brought forward business loss of assessment year 1998-99 amounting to Rs.1,46,76,023/- against the aforesaid income. The Ld.CIT observed that brought forward business
