2023 (3) TMI 1627

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.....D. Damodar i/by Kanga & Company for the respondent. ORDER P.C. : In this appeal by the Revenue for assessment year 2005-06, following re-framed question of law has been proposed for our consideration. "Whether on the facts and in the circumstances of the case and in law, the Tribunal was correct in holding that the assessee is entitled to set-ff under Section 74 in respect ....

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....cer disallowed the claim and held that in view of Section 50 of the Act, the gain is in the nature of short-term capital gain. The Commissioner of Income Tax (A) upheld the order of the assessing officer. 3. On further appeal, the Tribunal by the impugned order has allowed the claim of the respondent - assessee to set off its long term losses in terms of Section 74 of the Act against the long t....

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.... identical issue with regard to set off against long term capital loss arose in an appeal filed by the Revenue in the matter of Commissioner of Income Tax 9 V/s. Hathway Investments Private Limited, being Income Tax Appeal (L) No.405 of 2012. This Court by its order dated 31st January 2013 refused to entertain the appeal filed by the Revenue. The Revenue has not been able to point out any dis....