https://www.taxtmi.com/caselaws?id=404589 The Tribunal held that Section 115BBE of the Income Tax Act is prospective and does not apply to the assessment year 2008-09. It allowed the assessee to set off business losses against income determined under Section 69C, overturning the Assessing Officer's addition of Rs. 75,00,000. The appeal was allowed, and the earlier addition was deleted. en-us Tue, 16 Feb 2021 00:00:00 +0530 Fri, 26 Feb 2021 09:41:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404589 The Tribunal held that Section 115BBE of the Income Tax Act is prospective and does not apply to the assessment year 2008-09. It allowed the assessee to set off business losses against income determined under Section 69C, overturning the Assessing Officer's addition of Rs. 75,00,000. The appeal was allowed, and the earlier addition was deleted. Case-Laws Income Tax Tue, 16 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404589