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Tribunal Affirms Set-Off of Lower of Book Loss or Unabsorbed Depreciation Under 115JB
Case Law Details
- Case Name
- DCIT Vs Triumph International (India) Private Limited (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Chennai
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DCIT Vs Triumph International (India) Private Limited (ITAT Chennai)
The appeal before the ITAT Chennai concerned the Revenue’s challenge to an order of the CIT(A), Chennai-16, for Assessment Year 2018-19 relating to Triumph International (India) Private Limited. The Revenue filed its appeal with a delay of 39 days, explaining through an affidavit that the delay was caused by the time taken to prepare a scrutiny report and obtain comments from the Transfer Pricing Officer. The Tribunal found the reasons adequate and the assessee did not object, leading to condonation of delay.
The sole issue...
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