Rectification u/s 154
CA Dhaval Patanvadia (Author, Tutor) (44 Points)
25 November 2011CA Dhaval Patanvadia (Author, Tutor) (44 Points)
25 November 2011
CA SHRIPAL LUNIYA
(CA, CS Final & M.Com)
(744 Points)
Replied 25 November 2011
Dear friend...
U have to pay that demand bcoz of that other business loss can not be setoff against speculative profit according to income tax provision.
So u have to pay it and claim that other business loss (OBL) in next year if there will any business loss.
CA Hemang Shah
(PRACTICE)
(658 Points)
Replied 25 November 2011
arjun s
(CA Final)
(299 Points)
Replied 25 November 2011
go and meet the ITD officer the work will be done
Venkat
(Student)
(74 Points)
Replied 25 November 2011
Make an application to IT authorities for rectification as it is a mistake apparent from record.
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