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2015 (2) TMI 108 - ITAT DELHIDeduction u/s 10A of the Act was reduced on account of adjustment of unabsorbed business loss and depreciation - Held that:- Deduction u/s 10A of the Act is to be calculated before reducing the unabsorbed loss and depreciation from the profits of the undertaking. - Decided in favour of assessee Exchange variation on share application money received from abroad excluded from profits and gains of business - Held that:- While considering this ground, it was observed, the CIT (A) had neither adjudicated nor disposed off the issue as to whether the exchange variation of ₹ 7,85,820/- should be excluded from the assessee's income or not?. Since this issue was considered neither by the AO nor by the CIT (A), we deem it appropriate to restore this matter to the AO for denovo consideration. - Decided in favour of assessee for staistical purposes.
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