Case Law Details
Case Name : CIT Vs. Sumi Motherson Innovative Engineering Ltd. (Delhi High Court)
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All High Courts Delhi High Court
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For the purposes of section 115JB of the Act, the term gloss brought forward’ can only mean losses on the last day of the immediately preceding year and no other meaning can be given to it.
In the case of CIT Vs. Sumi Motherson Innovative Engineering Ltd. [2010-TIOL-756-HC-DEL-IT]’, the Delhi High Court (“NC”) held that the term ‘loss brought forward’ in clause (iii) provided in Explanation (1) to sub-section 2 of section 115JB of the Income-tax Act, 1961 (&
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