Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
Mandatory textile export qualifiers distinguish flame-retardant fabrics from other listed fabrics for automated identification under the textiles ince...
Personal liberty safeguards restrict arrest after court-directed GST appearance, requiring interim release where authorities overreach pending proceed...
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Incorrect set off of brought forward business loss and unabsorbed depreciation - The working of the Ld. AO contains the mistakes as they are not in consonance with the provision of section 72(2) of the Act. The correct method for adjustment of brought forward losses, which the Ld. Assessing Officer ought to have adopted, was to first set off the brought forward assessed business loss for A.Ys. 2009-10 and 2010-11 against the positive business income for the year under consideration and whatever remained should have been allowed to be carried forward for set off in subsequent years. - AT
Incorrect set off of brought forward business loss and unabsorbed depreciation - The working of the Ld. AO contains the mistakes as they are not in consonance with the provision of section 72(2) of the Act. The correct method for adjustment of brought forward losses, which the Ld. Assessing Officer ought to have adopted, was to first set off the brought forward assessed business loss for A.Ys. 2009-10 and 2010-11 against the positive business income for the year under consideration and whatever remained should have been allowed to be carried forward for set off in subsequent years. - AT
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