https://www.taxtmi.com/caselaws?id=426442 The Tribunal allowed the Revenue's appeal, setting aside the CIT(A)'s decision and directing the Assessing Officer to permit the set off of business losses based on the appellate authorities' ruling concerning the carry forward of losses under Section 79. The Tribunal emphasized that the issue of set off under Section 72A is dependent on resolving the carry forward matter under Section 79 for Kovalam Hotels Ltd. The order was pronounced on 10/08/2022. en-us Wed, 10 Aug 2022 00:00:00 +0530 Wed, 17 Aug 2022 08:09:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426442 The Tribunal allowed the Revenue's appeal, setting aside the CIT(A)'s decision and directing the Assessing Officer to permit the set off of business losses based on the appellate authorities' ruling concerning the carry forward of losses under Section 79. The Tribunal emphasized that the issue of set off under Section 72A is dependent on resolving the carry forward matter under Section 79 for Kovalam Hotels Ltd. The order was pronounced on 10/08/2022. Case-Laws Income Tax Wed, 10 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426442