2022 (4) TMI 714

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....hnan, F.C.A Respondent by : Shri AR V Sreenivasan, Addl. CIT ORDER Per Bench: This appeal by the assessee is arising out of the order of the Commissioner of Income Tax (Appeals)-15, Chennai, (hereinafter referred to as ("the CIT appeal") dated 26.10.2018 relevant to the Assessment Year 2014-15 wherein the assessee has challenged the impugned order confirming finding of the AO in treati....

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....me as income from business and the profession and the AO disallowed the standard deduction claimed by the assessee. The AO has disallowed the assessee's claim of carry forward of capital loss of Rs. 6,98,09,654/-in the belated return as per the schedule in column number XII. 3. Being aggrieved with the assessment order, the assessee went in appeal before the CIT appeal was confirmed the finding....

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.... of standard deduction from the business income and no carry forward capital loss so claimed in the belated return of income can be adjusted. He submitted that the order of the CIT appeal may be sustained. 6. We have heard the rival contentions, perused the material on record and submissions of both the sides. The learned CIT appeal as discussed that the appellant assessee has intended to const....

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.... assessee where the assessee providing services to its tenants including maintenance as per agreement entered into with them with the support of case laws. 8. The learned counsel contention that the rental income assessed under the head, income from house property in the earlier years is not acceptable as it is settled law that res judicata is not applicable in the income tax proceedings. The c....