Allowed
Commissioner of Income Tax, Delhi v. M/S Modi Rubber Ltd.
Delhi HCITA/135/2001
Case brief
AI extract
What is this about?
This order upholds the Revenue's appeal against the ITAT. Answering the substantial question in favor of the Revenue, the Court followed the Supreme Court in Karnataka Small Scale Industries to set aside the ITAT order regarding the computation of losses for Section 115J income.
What did the court decide?
Impugned order of the ITAT set aside to the extent of holding entitled to re-compute carry forward losses.