Case of Pride Foramer vs CIT, SC Judgement Dated 17thOctober 2025. The apex court held that a non-resident company which continued engaging in commercial efforts and correspondence to secure contracts in India could not be said to have ceased business, merely because it lacked a physical office or an ongoing contract in the country during the assessment years. The Court allowed the company to claim deductions, set-off, and carry forward unabsorbed depreciation under Income-tax Act.