{"id":23527,"date":"2022-01-09T06:32:42","date_gmt":"2022-01-09T01:02:42","guid":{"rendered":"https:\/\/itatonline.org\/digest\/first-source-solutions-ltd-v-acit-2021-438-itr-139-bom-hc\/"},"modified":"2022-01-20T15:52:03","modified_gmt":"2022-01-20T10:22:03","slug":"first-source-solutions-ltd-v-acit-2021-438-itr-139-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/first-source-solutions-ltd-v-acit-2021-438-itr-139-bom-hc\/","title":{"rendered":"First Source Solutions Ltd. v. ACIT (2021) 438 ITR 139 \/ 206 DTR 441 \/ 323 CTR 18(Bom.)(HC)"},"content":{"rendered":"<p>Allowing the petition the Court held that\u00a0 there was no failure on the part of the assessee to disclose fully and truly the fact that short-term capital gains had been set off against the losses claimed under section\u00a010AA. It was expressly mentioned that the assessee had added short-term capital gains and in his order, the Assessing Officer had allowed the set off of the short-term capital gains. The notice under section\u00a0148\u00a0was issued without jurisdiction. The notice and the order rejecting the\u00a0 objections were\u00a0 set aside. (AY. 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment-After the expiry of four years-Set-Off of  short-term capital gains against business income-No failure to disclose material facts-Disclosure was mentioned in the  assessment order-Reassessment  notice was quashed.  [S. 10A, 10AA, 143(3), 148, Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-23527","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-67t","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=23527"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23527\/revisions"}],"predecessor-version":[{"id":24158,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23527\/revisions\/24158"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=23527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=23527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=23527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}