M/S.VIRTUAL SOFT SYSTEMS LTD. vs. COMMISSIONER OF INCOME TAX, DELHI-I
C.A. No.-007115-007115 - 2005Supreme Court06 Feb 2007
For Respondent: Commissioner of Income Tax, Delhi-I
Section 260ASection 271(1)(c)Section 68
91 (Delhi). In the said case, the order
passed under section 143 (1A)(a) of the Act was
quashed under similar circumstances where, after
adjustment, the assessee was still found to be in
losses."
[Emphasis supplied]
In J.K. Synthetics Ltd. v. ACIT, 200 ITR 584 (Del.), it was held
as under: -
"The income-tax is payable only on income
which
