SUPREME COURT OF INDIA
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SPECIAL LEAVE TO APPEAL (C) NO. 14346 OF 2015
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Joint Commissioner of Income-tax, ..................................................Appellant.
Special Range-I, Chennai
v.
Carborundum Universal Ltd.
...........................................................Respondent |
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MADAN B. LOKUR AND S.A. BOBDE, JJ.
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| Date :AUGUST 14, 2015 |
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| Appearances |
Ritin Rai, and Mrs. Anil Katiyar, Advs. for the Petitioner.
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Section 80I read with section 268A of the Income Tax Act, 1961 — Deduction — Special leave petition dismissed on account of lower tax effect against High Court's ruling that loss incurred by industrial undertaking claiming deduction under section 80 I which was already been set off cannot be notionally carried forward and set off against profit generated by industrial undertaking during relevant assessment year — Joint Commissioner of Income Tax vs. Carborundum Universal Ltd.
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ORDER
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1. Delay condoned.
2. The special leave petition is dismissed on account of low tax effect.
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[2015] 234 TAXMAN 773 (SC) |
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