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Carry-Forward of Losses Allowed Because IBC Resolution Doesn’t Extinguish Tax Rights
Case Law Details
- Case Name
- JSW Steel Coated Products Ltd. Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2021-22
- Courts
- All ITAT, ITAT Mumbai
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JSW Steel Coated Products Ltd. Vs DCIT (ITAT Mumbai)
IBC Resolution Doesn’t Extinguish Statutory Loss Carry-Forward: ITAT Mumbai Restores Claim of ₹3,926 Cr Business Losses to AO
The Mumbai ITAT “F” Bench allowed the appeal of JSW Steel Coated Products Ltd. (successor of Asian Colour Coated Ispat Ltd.) in ITA No. 3407/Mum/2025 for AY 2021-22, holding that carry-forward of business losses cannot be denied merely by treating the appeal as infructuous on account of an IBC resolution plan, and remitted the matter to the Jurisdictional AO to examine and allow the claim in accordance with la...
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