INDUSTRIAL PROMOTION AND INVESTMENT CORPORATION OF ORISSA LTD.,BHUBANESWAR vs. DCIT, CORPORATE CIRCLE-1(1), BHUBANESWAR

In the result, appeal filed by the assessee is allowed and that of the

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2010-2011

35,103/-, total loss as claimed by the assessee brought forward was Rs.7,49,67,132/- and the unabsorbed capital loss during A/Y 2007-08 was rs.73,16,0241- as claimed by assessee. During scrutiny assessment, the above addition in the assessed income of the A/Y2007-08 has not been adjusted. Since the assessed income of A/Y 2007-08 was increased