Supreme Court · 2022 INSC 687 · Decided 11 July 2022
Principal Commissioner of Income Tax-Iii, Bangalore and Another v. M/S Wipro Limited
- Court
- Supreme Court of India
- Citation
- 2022 INSC 687 · [2022] 17 S.C.R. 36
- Case number
- CIVIL APPEAL No. 1449/2022
- Decided
- 11 July 2022
- Bench
- M.R. SHAH, B.V. NAGARATHNA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 10B, 10B(5), 10B(8), 72, 32(1)
Headnote
Income Tax Act, 1961 - Ss. 10B, 10B (5), 10B (8), 72, 32 (1) (ii-a), 80, 139 (1), 139 (5) - Return of income u/S 139 (1) - Revised return -Denial of claim of carrying -Respondent assessee filed return of income, declaring loss and claiming exemption u/S. 10 B of IT Act along with a note that no loss is being carried forward - Subsequently, assessee filed a declaration before Assessing Officer (AO) stating that it does not want to avail the benefit
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