ORDER

PER B.R. BASKARAN, A.M :

The assessee has filed this appeal challenging the order dt.21-11-2023 passed by the Ld. Commissioner of Income Tax (Appeals)-51, Mumbai [„Ld.CIT(A)‟] and it relates to AY.2019-20. The assessee is aggrieved by the decision of the Ld.CIT(A) in confirming the adjustments made by the CPC, Bengaluru (CPC) while processing the return of income filed for the year under consideration u/s.143(1) of the Income Tax Act, 1961 („the Act‟).

2. Brief facts of the case are that the assessee is a public limited company engaged in the business of mining and selling of minerals. It filed its original return of income for this year on 30-11-2019, declaring NIL total income. The assessee declared loss of Rs.191.80 crores under the head “Income from business”. It also declared Short Term Capital Gain of Rs.21.03 lakhs and Long Term Capital Gain of Rs. 253.83 lakhs. The business of loss of Rs.191.80 crores, un-absorbed depreciation of Rs.62.25 crores and the brought forward unabsorbed depreciation of Rs.110.41 crores were set off against the income declared under the head capital gains. Accordingly, the total income was returned as NIL.

3. Thereafter, the assessee filed a revi