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2013 (2) TMI 711 - HC - Income TaxWhether deduction claimed by the assessee under Section 10A of the Income Tax Act, 1961 should be allowed without adjustment of losses of other units and without adjustment of brought forward losses and/or its depreciation of earlier years - Decided in favour of assessee. See Commissioner of Income Tax Vs. Black and Veatch Consulting Pvt. Ltd.[2012 (4) TMI 450 - BOMBAY HIGH COURT ] as held Section 10A is a provision which is in the nature of a deduction and not an exemption - the deduction under Section 10A has to be given effect to at the stage of computing the profits and gains of business - Section 80B(5) defines for the purposes of Chapter VI-A “gross total income” to mean the total income computed in accordance with the provisions of the Act, before making any deduction under the Chapter – Decided against revenue.
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