Supreme Court · 2008 INSC 358 · Decided 13 March 2008
M/S Synco Industries LTD. v. Assessing Officer, Income Tax, Mumbai & ANR.
- Court
- Supreme Court of India
- Citation
- 2008 INSC 358 · [2008] 4 S.C.R. 919
- Case number
- CIVIL APPEAL No. 4190/2002
- Decided
- 13 March 2008
- Bench
- ASHOK BHAN, J.M. PANCHAL (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
Income tax Act, 1961 - Chapter VI-A, ss. 80 HH, 80 I 80 B (5), 71, 72 and 32 (2)-Assessee-company running two units A B - 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 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 D got to be determined after adjusting losses, and then if the gross total income is 'Nil', assessee not entitled to
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