TaxTMI 
TaxTMI 
2023 (12) TMI 1089
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....ER PER ANUBHAV SHARMA, JM: The appeal has been preferred by the Revenue against order dated 14.02.2019 in appeal no. 107/18-19/1135 for assessment year 2009-10 passed by Commissioner of Income Tax (Appeals)-28, New Delhi (hereinafter referred to as the First Appellate Authority in short 'Ld. F.A.A.') in appeal against assessment order dated 09.03.2016 u/s 154/143(3) of the Income Tax Act, 1961 p....
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....by disallowing the aforesaid loss of Rs. 5,04,64,408/- and assessed the total income at Rs. 12,46,98,440/- against the income of Rs. 7,42,36,031/- computed u/s 143(3) of IT Act. 4. Against the aforesaid rectification order, assessee prefered appeal. Before Ld. CIT(A) and where it has been submitted by the appellant:- " In this regard, further to our discussion with your honour on February 07, ....
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....008-09 has been reinstated to the extent of INR 4,92,05,810/-. Pursuant to the favourable decision of the Hon'ble IT AT and subsequent appeal effect order by Ld AO, the Appellant is now eligible to set-off the income for AY 2009-10 with the brought forward business losses for AY 2008-09. Thus, the appellant requests your honour to kindly allow relief. In view of the above factual and legal s....
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....into consideration the brought forward loss of Rs. 4,92,05,810/- for A.Y. 2008-09 as determined by AO vide order dated 12.12.2018 by replacing the disallowance of loss of Rs. 5,04,62,408/-. 6. Revenue is in appeal against this order of CIT(A) raising following grounds; "1. On the facts and in the circumstances of the case and law whether CIT(A) erred in allowing the assessee the benefit of brou....