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Claim for Set off of unabsorbed business loss b/f against profit of section 10A after AY 2001-02 is allowable
Case Law Details
- Case Name
- CIT Vs M/s Shantivijay Jewels Ltd. (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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Brief of the case:
In this case Hon’ble Court considered question of law that whether claim for set off of unabsorbed business loss which was brought forward in subsequent AY against the profit of section 10A is allowable or not. ITAT allowed the appeal filed by the assessee and Hon’ble Court after considering the facts of the case decided that ITAT didn’t commit any error while passing the judgment.
Facts of the case:
The Assessee is engaged in the manufacturing and export of gems jewellery and filed return of Income for AY 2005-05 after claiming the deduction under 10A.
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