Loss arising in eligible SEZ undertaking can be adjusted against profits from non-SEZ units

Wipro Limited Vs ACIT (ITAT Bangalore)

ITAT Bangalore held that the loss arising in eligible SEZ/STPI undertakings are not required to be adjusted against the profits arising from other SEZ/STPI undertakings and the said loss can be adjusted against profits arising from non-SEZ/non-STPI units.

Facts- Assessee contested the action of the AO in setting off the loss arising from SEZ units against income earned by non-tax holiday units. During the course of assessment proceedi

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