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2013 (12) TMI 1207 - HC - Income TaxWhether loss of unit entitled to deduction under Section 10-B be set off against business profits earned by the assessee - Held that:- Following Goetze (India) Ltd. v. CIT [2006 (3) TMI 75 - SUPREME Court] - The Tribunal has held that on the date relevant to the present controversy, the Act did not prescribe any impediment prohibiting the assessee from setting off the loss in the manner allowed by the Tribunal - The revenue is unable to refer to any statutory provision or precedent, relevant to the assessment year, that would enable us to hold to the contrary - The order passed by the Income Tax Appellate Tribunal granting relief to the assessee is in accordance with law - Decided against Revenue.
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