2021 (9) TMI 799

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.... ITA No.1643/Mum/2020 for A.Y.2015-16 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-Mumbai in appeal No. ITBA Appeal No. CIT(A)-1, Mumbai/10926/2018-19 dated 30/01/2020 (ld. CIT(A) in short) against the order of assessment passed u/s.154 r.w.s. 143(3) of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 25/01/2019 by the ld. DCIT(LTU-2), Mumbai (hereinafter ....

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....on 25/11/2015 declaring loss of Rs. 4507,15,19,875/- under normal provisions of the Act and book loss of Rs. 3281,73,74,455/- u/s.115JB of the Act. Since, there was loss both under normal provisions of the Act as well as u/s.115JB, there was no occasion for the assessee to claim MAT credit u/s.115JAA of the Act. The ld. AO passed an order u/s.143(3) on 23/01/2019 determining total loss of Rs. 41,8....

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....2,76,374/- instead of 258,92,18,131/-. This action of the ld. AO was upheld by the ld. CIT(A). 5. Aggrieved, the assessee is in appeal before us. 6. This issue is no longer res-integra in view of the decision in assessee's own case by this Tribunal for A.Y.2014-15 in ITA No.2397/Mum/2019 dated 25/06/2021, wherein, it was categorically held that while computing MAT credit u/s.115JAA of the Act, t....