https://www.taxtmi.com/caselaws?id=417779 The ITAT allowed the appeal, directing the deletion of the addition made by the AO and confirmed by the ld. CIT(A). The ITAT held that business losses and brought forward losses can be set off against the income assessed under Section 115BBE of the Act, aligning with the CBDT Circular and relevant case laws. The decision was based on legal sustainability and jurisdictional aspects, reflecting the legislative intent behind the amendments and consistent tribunal interpretations. en-us Mon, 17 Jan 2022 00:00:00 +0530 Tue, 01 Feb 2022 08:31:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417779 The ITAT allowed the appeal, directing the deletion of the addition made by the AO and confirmed by the ld. CIT(A). The ITAT held that business losses and brought forward losses can be set off against the income assessed under Section 115BBE of the Act, aligning with the CBDT Circular and relevant case laws. The decision was based on legal sustainability and jurisdictional aspects, reflecting the legislative intent behind the amendments and consistent tribunal interpretations. Case-Laws Income Tax Mon, 17 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417779