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2013 (7) TMI 979 - GUJARAT HIGH COURTEligible profits u/s 80IA of CPP unit and section 80IB with respect to Baddi unit - whether the loss from the Baddi unit is required to be adjusted before determining the gross total income of the assessee? - Whether the tribunal erred in upholding the adjustment of loss from eligible unit against the profit of another eligible unit while computing deduction under section 80IA and 80IB of the Income Tax Act? - Held that:- In the case of the very assessee, the very issue arose in the Assessment Years, 2003-04, 2004-05 and 2005-06 wherein the issue was decided against the assessee, however, the same was not challenged further. It is the case on behalf of the assessee that as the amount involved was small, the assessee thought it fit not to challenge the same before higher forum. Be that it may, the fact remains that in the earlier years while considering deduction under sections 80IA and 80IB, loss in another unit was first given set off and only thereafter deduction under section 80IA and 80IB of the Act was given. In view of the above and for the reasons stated above, we are of the opinion that the tribunal was right in law in reducing eligible profits under section 80IA of the CPP unit and under section 80IB of the Baddi unit by losses of Daman unit.
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