Pride Foramer S.A vs Commissioner Of Income Tax
Practice Areas
Judges (2)
Case Significance
Pride Foramer S.A vs Commissioner Of Income Tax is a Supreme Court of India decision dated October 17, 2025 (citation: insc-2025-1247). A French oil drilling company challenged the High Court's disallowance of business expenditure deductions and carry-forward of unabsorbed depreciation during an interregnum between drilling contracts. The Supreme Court allowed the appeals, holding the company maintained business connections in India through ongoing correspondence and bid submissions. The bench comprised Justices Joymalya Bagchi and Manoj Misra. The judgment was delivered by Justice Manoj Misra.
This case has been cited by 1 subsequent judgment. The judgment references 2 case citations.
Summary
A French oil drilling company challenged the High Court's disallowance of business expenditure deductions and carry-forward of unabsorbed depreciation during an interregnum between drilling contracts. The Supreme Court allowed the appeals, holding the company maintained business connections in India through ongoing correspondence and bid submissions.
What was the outcome of Pride Foramer S.A vs Commissioner Of Income Tax?
A French oil drilling company challenged the High Court's disallowance of business expenditure deductions and carry-forward of unabsorbed depreciation during an interregnum between drilling contracts....
Statutes Cited
Cases Cited (2)
Judgment
Read the full judgment on the official India Courts portal.
Read on Indian KanoonSource: Indian Kanoon (insc-2025-1247)