Supreme Court of India
M/s Synco Industries Ltd. v. Assessing Officer, Income Tax, Mumbai & Anr.
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1 Supreme Court bench has cited this judgment.
From the headnote
Income tax Act, 1961 - Chapter VI- , ss. 80 HH, 80 I 80 (5), 71, 72 and 32 (2)-Assessee-company running two units - Both the units earned profit in the relevant assessment years c - However, one of the units had suffered loss in previous years - Demand of deduction u/ss. 8 HH and 80 I by treating both the units separately - Denial of by authorities/courts below - In appeal, held: Assessee was not entitled to claim the deduction - The gross total income of the assessee has first got to be determined after adjusting losses, and then if the gross total income is 'Nil', assessee not entitled to
Authorities it was built on
Where later benches applied it
- 2021 Commissioner of Income Tax-i v. M/s. Reliance Energy Ltd. (formerly Bses Ltd.) through its M.D.
Of those, 1 referred to
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