M/S. GLOBE TEXTILES,,SURAT vs. THE INCOME TAX OFFICER, WARD-2(1), NOW RE-DESIGNATED AS INCOME TAX OFFICER, WARD 1(2)(6),, SURAT
In the result, assessee’s appeal is allowed for statistical purposes
ITA 1227/AHD/2016[2011-12]Status: DisposedITAT Surat14 Dec 2018AY 2011-12
Bench: Shri Amarjit Singh & Ms. Madhumita Roym/S. Globe Textiles, Vs. Ito, 45-46, Hashimi Estate, Ward – 2(1), Udhna Main Road, Surat. Surat-394 210. [Pan No. Aacfg 2121 J] (Appellant) (Respondent) ..
For Appellant: Mr. Rasesh Shah, A.RFor Respondent: Ms. Anupama Singla, Sr. D.R
Section 142(1)Section 143(2)Section 143(3)Section 71
234
Net income
Nil
It appears from the record that the assessee was directed to explain as to why the amount of Rs.1,04,94,105/- should not be treated as short term capital gain for A.Y.
2011-12 and the claim of set off of carried forward business loss and depreciation loss of earlier year should not be disallowed