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Loss of one industrial undertaking cannot be set off against the profit of another such industrial undertaking for purpose of computing deduction u/s 80-I
Case Law Details
- Case Name
- CIT Vs Sona Koyo Steering Systems Ltd. (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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CASE LAWS DETAILS
DECIDED BY: HIGH COURT OF DELHI,
IN THE CASE OF : CIT Vs Sona Koyo Steering Systems Ltd., APPEAL NO: ITA No. 1279/2008 and 194,416,761 and 788 of 2009, DECIDED ON: February 10, 2010
RELEVANT PARAGRAPH
7. Section 80-I(1) reads as under:-
“80 -I. Deduction in respect of profits and gains from industrial undertakings after a certain date, etc. –
(1) Where the gross total income of an assessee includes any profits and gains derived from an industrial undertaking or a ship or the business of a hotel or the business of repairs to ocean-going vessels or other powered craft ...
