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2015 (3) TMI 618 - HC - Income TaxSet off of loss suffered in a unit entitled for exemption under Section 10B against income from any other unit not eligible for such exemption - ITAT allowed he claim - Held that:- This court is of the opinion that Tei Technologies (2012 (9) TMI 47 - DELHI HIGH COURT) applies wherein held held that even if Section 10A/ Section 10B are treated as exemption provisions, Section 80A (4) cannot defeat that interpretation. The object of Section 80-A (4) was explained as ensuring that “double benefit does not result to an assessee in respect of the same income, once under Section 10A or Section 10B or under any of the provisions of Chapter VIA and again under any other provision of the Act.” It was held that even if Section 10A or Section 10B is construed as exemption provisions, “it is still possible to invoke the sub-section and ensure that the assessee does not obtain a deduction in respect of the exempted income under any other provision of the Act. The only object of the sub-section is to ensure that there is no double benefit arising to the assessee in respect of the same income. The tax-exempt income of the assessee, eligible under Section 10-B could not have been set off against the losses from tax-liable income. - Decided in favour of revenue.
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