Case Law Details
Case Name : Dongfang Electric Corporation Vs. DCIT (ITAT Kolkata)
Related Assessment Year : 2007-08
Courts :
All ITAT ITAT Kolkata
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Merely because assessee incurred a loss on onshore activities it cannot be said that price was deliberately kept at a lower amount to avoid taxability in India
In the present case, the assessee has stated that all the activities of the assessee company, i.e. onshore as also offshore, resulted in huge losses due to inordinate delays in the project. The assessee has also filed audited accounts of its Indian projects, including in respect of offshore supplies, which show losses in both segments – onshore as als
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