ITAT dismisses  Rectification Orders passed u/s 154 of Income Tax Act without setting off Business Loss against Property Income and Income from Other Sources [Read Order]

ITAT dismisses - Rectification Orders passed - Income Tax Act - Business Loss against Property Income and Income from Other Sources - TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench Dismissed the rectification order passed under Section 154 of Income Tax Act, 1961 without setting off business loss against property Income  and Income from other sources. The assessee Ashapura BuildCon is a partnership firm and assessee’s books of accounts were audited under Section 44AD of Income Tax…

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