Where undisclosed income of assessee reflected in AIR database of revenue on which TDS was also deducted under section 194H was added to income of assessee by Assessing Officer, Commissioner (Appeals) was justified in directing Assessing Officer to verify contentions of assessee as to factual aspect of matter and grant relief on merits
Section 79 applies only on brought forward and set off of business loss and it has no applicability on carry forward and set off of unabsorbed depreciation
Where shares of company in which public were substantially interested became more than fifty one per cent in assessee company only for a part of previous year 2010-11, carry forward of losses till assessment year 2010-11 could not be allowed; in assessment year 2012-13 losses arising in previous year 2011-12 would be allowed
Refer:[2018] 91 taxmann.com 112 (Mumbai - Trib.)
Section 79 applies only on brought forward and set off of business loss and it has no applicability on carry forward and set off of unabsorbed depreciation
Where shares of company in which public were substantially interested became more than fifty one per cent in assessee company only for a part of previous year 2010-11, carry forward of losses till assessment year 2010-11 could not be allowed; in assessment year 2012-13 losses arising in previous year 2011-12 would be allowed
Refer:[2018] 91 taxmann.com 112 (Mumbai - Trib.)
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