Dismissing the appeal of the revenue the Court held that, advance given to subsidiary which was written off is held to be allowable as short term capital loss.(Arising from ITA No.3833/Mum/21,dt.31/03/2016)(ITA No.1366 of 2017 dt.26/08/2019)(AY. 2002-2003)
CIT v. Siemens Nixdorf Information Systems Gmbh (2020) 114 taxmann.com 531 (Bom)(HC) Editorial : SLP oof Revenue dismissed , CIT (IT) v. Siemens Nixdorf Information Systemse Gmbh (2023)453 ITR 741 / 293 Taxman 1 (SC)
S.2 (14)(a): Capital asset –Advance given to subsidiary – Loss – Held to be allowable as short term capital loss [S. 2(42A) ,2(47)]