In the result, appeal of the assessee is partly allowed
Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2010-11 Canara Securities Ltd., Vs. Dy. Commissioner Of Hydereabad. Income-Tax, Central Circle – 2(1), Pan – Aaacc8283G Hyderabad. Appellant Respondent Assessee By: Shri Ramkishore Jhawar Revenue By: Shri Nilanjan Dey Date Of Hearing: 08/05/2019 Date Of Pronouncement: 03/07/2019 O R D E R
928 ============= CIT(A) observed that in the computation of income, assessee has adjusted Rs. 20,10,867/- as long term capital gain and declared total business loss under the head ‘income from business or profession’ as Rs. 36,59,560/-. The long term capital gains, which is declared as loss in business income is claimed as exempt