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Loss arising in eligible SEZ undertaking can be adjusted against profits from non-SEZ units
Case Law Details
- Case Name
- Wipro Limited Vs ACIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Bangalore
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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 proceedings the AO noted that the assessee has various SEZ units at different locations. Among SEZ units all are n...
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