2023 (12) TMI 1089

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nue : Shri Vivek Vardhan, Sr. DR ORDER 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....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....om assessee, he passed the rectification order 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, f....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ectification order passed by the Ld. AO is incorrect as the loss of AY 2008-09 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 h....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....efore, directed the AO to recompute the income of appellant for A.Y. 2009-10 after taking 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 ....