set-off losses
This query is : Resolved
CA. PURVI OZA
(Querist)
26 July 2008
Assessee filed return of loss and carried forward to next year. If assessing officer made addition in that year which is resulted set off of losses and Assessee has filed appeal to tribunal which is still pending is assessee take benefit of set off and carry forward of lossess?
CA. PURVI OZA
(Querist)
26 July 2008
Please give me answer.
26 July 2008
Yes, the assessee may set off the c/f losses which are the matter of dispute in the appeal before the tribunal. In case the assessee looses in appeal then the orders of earlier will ified/revised accordingly.
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