Search: penalty u/s 271

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Section 43(5)5 Section 271(1)3

M/S. KRISHNA SOYA PRODUCTS PVT. LTD,INDORE vs. THE DCIT CIRCLE 1(1), INDORE

In the result, the appeal of the assessee is stand allowed

ITA 496/IND/2015[2009-10]Status: DisposedITAT Indore28 Sept 2017AY 2009-10

Bench: Shri C.M. Garg & Shri O.P.Meena

Section 271(1)Section 271(1)(c)Section 274Section 43(5)

section 43, we further find that the Assessing Officer has treated the business loss claimed by the assessee as speculative loss and simply carry M/s. Krishna Soya Products Pvt.Ltd v DCIT(Appeals-I) ITA No.496/Ind/2015 A.Y. 2009-10 Page 5 of 9 forward it to be set off in future in view of its only change of income from