ALISHAN STEELS PVT. LTD,KOLKATA vs. DCIT, CIRCLE-1(1), KOLKATA

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

69D." The intention of the legislature in introducing the amendment, as stated in the explanatory note, is to avoid unnecessary litigation and to expressly provide that no set off of any loss shall be allowable in respect of income under section 68. Therefore, it has to be held that, as on the relevant date of the assessment, there

ACIT, CENTRAL CIRCLE - 4(3), , KOLKATA vs. SRI DEVENDRA KUMAR MANTRI , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Saini

69D of the Act but the term has been specifically defined for the purposes of levy of penalty Section 271AAB of the Act. 5. The two sub-clauses (i) & (ii) contained in clause (c) of Explanation 271AAB which define 'undisclosed income' can be further broken two parts; sub-clause (ii) of clause (c) of Section 271AAB which defines "undisclosed income

ACIT, CENTRAL CIRCLE - 4(3), , KOLKATA vs. SRI DEVENDRA KUMAR MANTRI , KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Saini

69D of the Act but the term has been specifically defined for the purposes of levy of penalty Section 271AAB of the Act. 5. The two sub-clauses (i) & (ii) contained in clause (c) of Explanation 271AAB which define 'undisclosed income' can be further broken two parts; sub-clause (ii) of clause (c) of Section 271AAB which defines "undisclosed income

M/S SKIPPER LIMITED,KOLKATA vs. DCIT, CEN. CIR. 3(1), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice-(Kz)& Shri Rajesh Kumar]

69D of the Act. This Circular was brought out in view of amendment brought about by Finance Act, 2016 w.e.f 01.04.2017 which provides that no set off of any loss shall be given to assessee under the any of provision of the Act against the income as referred to in Clause A and B of sub-section (1) of Section