Description:
Loss was allowed for earlier and subsequent year. Appellate Tribunal refused to rectify the order. The Apex Court remanded the matter to Tribunal for consideration afresh in light of CIT vs. Woodward Governor India (p.) Ltd. (2009) 312 ITR 254 (SC) (A.Y. 1998-99).
Perfetti Van Melle India (p.) Ltd. vs. CIT (2011) 334 ITR 259 (SC)
SOURCE:
1. www.aiftponline.org
2. AIFTP TIMES Volume.No.2 August, 2011, Page No.7.
3. www.itatonline.org.
Our comment:
The brought forward loss has to allowed to be carried forward.
