Re: loss converted to income and set of against brought forward business loss

Returned business loss has been converted to income and set off against brought forward business loss. Similarly addition under the head capital gains set off against brought forward unabsorbed depreciation. If we opt for VSVS , whether tax has to be paid for disputed additions

The assessee has to pay the tax on disputed additions. Please refer Circular No 9/2020 dt 22-4 -2020  Q. No. 53 and Answer given by CBDT  wherein it is stated that  to carry forward the reduced tax credit or loss or depreciation . CBDT will prescribe the manner of calculation in such cases .

 

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