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ITAT allows carry forward of losses in case of shares held by ultimate holding company
Case Law Details
- Case Name
- Bechtel France SAS Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Mumbai
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Bechtel France SAS Vs DCIT (ITAT Mumbai)
Facts: The taxpayer is a company incorporated in France and engaged in the business of procurement and construction. It had set up a project office at Mumbai with site offices at other locations in India to build certain refinery and certain complex.
The Commissioner of Income-tax observed that there was a change in the immediate shareholding pattern of the taxpayer during the year under consideration (viz. FY 2013-14, corresponding to AY 2014-15), from one group company to another group company.
Accordingly, the CIT invoked its revisi...
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