2020 (1) TMI 1351

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....Mehta JUDGMENT 1. This appeal preferred under section 260A of Income-tax Act, 1961 (for short "the Act") is directed against order dated 3.7.17 of the Income-tax Appellate Tribunal (TTAT), Jodhpur Bench, Jodhpur (ITAT), passed in ITA No. 124/Jodh./2017, whereby an appeal preferred by the Revenue against the order dated 29.12.16 passed by the Commissioner of Income-tax (Appeals) [CIT(A)] for ....

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....ng that the provisions of Section 115BBE of the Act providing that no set off of any loss shall be allowed to the assessee against the deemed income under sections 68, 69, 69A to 69(2) (sic), is not applicable to the Assessment Year 2014-15 and thus, set off of the loss allowed to the assessee ignoring the provisions of Section 115BBE is absolutely unjustified. 3. On the other hand, the counsel....

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....ght to be raised on behalf of the Revenue is absolutely unjustified. 4. We have considered the submissions of the learned counsel and perused the material on record. 5. Indisputably, the provisions of Section 115BBE as existed prior to the amendment does not provide that the losses shall not be allowed to be set off against the income referred in Section 115BBE and it is only to dispel the u....