https://www.taxtmi.com/caselaws?id=300416 The High Court of Calcutta addressed the adjustment of assessed profit and loss under sections 70(1) and 71(1) of the Income Tax Act, 1961. The Court found in favor of the assessee, ruling that the loss was entitled to be adjusted as requested. The Court dismissed the revenue's appeal, affirming the assessee's right to the adjustment without ordering costs. en-us Thu, 13 Dec 2018 00:00:00 +0530 Mon, 31 Jan 2022 21:09:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300416 The High Court of Calcutta addressed the adjustment of assessed profit and loss under sections 70(1) and 71(1) of the Income Tax Act, 1961. The Court found in favor of the assessee, ruling that the loss was entitled to be adjusted as requested. The Court dismissed the revenue's appeal, affirming the assessee's right to the adjustment without ordering costs. Case-Laws Income Tax Thu, 13 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300416