DCIT, CIRCLE - 3(1), KOLKATA , KOLKATA vs. M/S. ATIBIR HI-TECH PVT. LTD., , KOLKATA
In the result, the appeal of the revenue as well as cross- objection of the assessee are dismissed
ITA 1747/KOL/2017[2013-14]Status: DisposedITAT Kolkata29 Mar 2019AY 2013-14
Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri A.T. Varkey, Jm] Assessment Year: 2013-14 D.C.I.T, Circle – 3(1) Kolkata...........................................................................................Appellant P-7, Chowringhee Squar, 4Th Floor, Aayakar Bhawan, Room No. 19, Kolkata – 700 069. M/S. Atibir Hi-Tech Pvt. Ltd. …………………………………………………….......................Respondent Block-7B, 7Th Floor, Abdul Hamid Street, Kolkata – 700 069. [Pan : Aabca 4466 C] C.O. No. 118/Kol/2017 (Arising Out Of Ita No. 1747/Kol/2017) Assessment Year: 2013-14 M/S. Atibir Hi-Tech Pvt. Ltd. ……………………………………………………..................Cross-Objector Block-7B, 7Th Floor, Abdul Hamid Street, Kolkata – 700 069. [Pan : Aabca 4466 C] D.C.I.T, Circle – 3(1) Kolkata.......................................................................................Respondent P-7, Chowringhee Squar, 4Th Floor, Aayakar Bhawan, Room No. 19, Kolkata – 700 069. Appearances By: Shri Radhey Shyam, Cit, Dr Appearing On Behalf Of The Revenue Shri D.S. Damle, Fca Appearing On Behalf Of The Assessee Date Of Concluding The Hearing : January 16, 2019 Date Of Pronouncing The Order : March 29, 2019 Order Per P.M. Jagtap, Vice-(Kz) This Appeal Is Preferred By The Revenue Against The Order Of Ld. Cit (A) – 11, Kolkata Dated 04.042017 & The Same Is Being Disposed Of Along With The Cross-Objection Filed By The Assessee Being C.O. No. 118/Kol/2017. 2 Ita No. 1747/Kol/2017 & C.O. No. 118/Kol/2017 Assessment Year 2013-14 M/S. Atibir Hi-Tech Pvt. Ltd.
Section 41(1)
Section 115BBE does not allow set off of income assessed as cash credit u/s 68 against the loss under any other head as per the provisions of Sec. 71. The legislature in all its wisdom has decided not to allow set off of loss under any provisions of this Act w.e.f. 01.04.2017 in computing the income as per the provisions
