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Showing contexts for: ITD database in Tge Gas Engineering Gmbh, Germany vs Dcit, Circle Int. Taxation 3(1)(1), ... on 9 March, 2023Matching Fragments
Relevant extract of the assessment order of Ld. AO are reproduced as under:
Page | 12 "As per Hon'ble DRP directions, the expenses claimed by the assessee in each of the financial years i.e. FY 2011-12 to FY 2012-13 were verified from the additional evidence as submitted by the assessee during Hon'ble DRP proceedings and found to be satisfactory as per provisions of the Act. Further, from the information available on ITD database, it is noticed that the assessee has filed its return of income for the abovementioned years within stipulated time as prescribed u/s 139(1) of the Act. But upon verification, it is found that assessee has not claimed the brought forward losses in the income tax return for the year under consideration. As the assessee has not itself claimed the same in its return of income, the same is not being set off from the assessed income in the year under consideration".