Dismissing the appeal of the Revenue the Court held that the Tribunal noted that the Department had not brought on record any material to contradict the findings of fact of the Commissioner (Appeals) on this issue and accordingly upheld the deletion. No substantial question of law arose for consideration. Circular No. 14 (XL)-35 of 1955 dated April 11, 1955 (AY.2012-13)
PCIT v. GGC Constructions Pvt. Ltd. (2023)457 ITR 240 (Delhi)(HC)
S. 28(i) : Business loss-Future and options-Not claimed in the original return-Retraction in the original assessment proceedings-Tribunal affirmed the order of the CIT(A), allowing the claim.[S. 139(5), 154, 260A]