https://www.taxtmi.com/caselaws?id=403234 The Tribunal partially allowed the appeal, emphasizing the importance of accurate assessment and set off calculations. The Assessing Officer was directed to reevaluate the actual loss for A.Y. 2009-10 for correct set off calculations, based on the revised loss determination of &8377; 19,10,76,892. The order under section 143(3) was set aside, requiring a fresh assessment due to the excess set off of loss for A.Y. 2009-10. The Tribunal upheld the revision under section 263, stressing the necessity of precise determination of losses and set offs to prevent revenue loss. en-us Fri, 18 Dec 2020 00:00:00 +0530 Fri, 22 Jan 2021 11:30:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403234 The Tribunal partially allowed the appeal, emphasizing the importance of accurate assessment and set off calculations. The Assessing Officer was directed to reevaluate the actual loss for A.Y. 2009-10 for correct set off calculations, based on the revised loss determination of &8377; 19,10,76,892. The order under section 143(3) was set aside, requiring a fresh assessment due to the excess set off of loss for A.Y. 2009-10. The Tribunal upheld the revision under section 263, stressing the necessity of precise determination of losses and set offs to prevent revenue loss. Case-Laws Income Tax Fri, 18 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403234