2022 (7) TMI 1386

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....behalf   For the Respondent : Shri Amol Kamat, CIT-DR, appeared on behalf ORDER Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the assessee against the order dated 26.03.2022 of the Principal Commissioner of Income Tax, Asansol [hereinafter referred to as 'PCIT'] exercising his revision jurisdiction u/s 263 of the Income Tax Act (hereinafter referred to....

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.... invited our attention to the paper-book page 12,13,14,15 & 16 to submit that show-cause notices were served by the Assessing Officer during the assessment proceedings wherein the queries were raised regarding the adjustment of derivative loss against the income declared u/s 44AD of the Act which were duly replied and the relevant evidences in support of the claim were also furnished. The Assessin....