https://www.taxtmi.com/caselaws?id=432038 The ITAT ruled in favor of the appellant, allowing the set off of the brought forward long term capital loss. The appellant successfully challenged the order under section 143(1) for AY 2019-20, disputing the disallowance of the loss claimed due to alleged late filing of the previous year's return. The ITAT found the appellant had filed the return within the specified time, deeming the Assessing Officer's adjustment legally unsustainable. Consequently, the ITAT vacated the action, granting relief to the appellant by permitting the set off of the long term capital loss. en-us Fri, 03 Jun 2022 00:00:00 +0530 Tue, 18 Apr 2023 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432038 The ITAT ruled in favor of the appellant, allowing the set off of the brought forward long term capital loss. The appellant successfully challenged the order under section 143(1) for AY 2019-20, disputing the disallowance of the loss claimed due to alleged late filing of the previous year's return. The ITAT found the appellant had filed the return within the specified time, deeming the Assessing Officer's adjustment legally unsustainable. Consequently, the ITAT vacated the action, granting relief to the appellant by permitting the set off of the long term capital loss. Case-Laws Income Tax Fri, 03 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432038