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Tax Loss Set-off: Madras HC Rejects Revenue Appeal Citing No Substantial Question of Law
Case Law Details
- Case Name
- CIT Vs S&S Power Switchgear Limited (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2000-2001
- Courts
- All High Courts, Madras High Court
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CIT Vs S&S Power Switchgear Limited (Madras High Court)
Madras High Court has dismissed an appeal filed by the Income Tax Department (Revenue) concerning the set-off of brought forward business losses against capital gains arising from the sale of a business undertaking. The High Court’s decision, delivered on a technicality, upheld the Income Tax Appellate Tribunal’s (ITAT) ruling which allowed such a set-off.
The case originated from the assessment year 2000-2001, where the Assessing Officer (AO) disallowed the assessee, S&S Power Switchgear Limited, from...
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