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2015 (6) TMI 438 - AT - Income TaxClaim deduction u/s 80IA - whether the earlier year losses of the eligible unit can be set off against the profit of the said unit in this year, when the assessee has exercised to chose the initial assessment year from A.Y. 2009-10? - Held that:- As relying on case of M/s. Shevie Exports Vs. JCIT [2013 (5) TMI 16 - ITAT MUMBAI] we hold that the assessee’s claim for deduction u/s 80IA is allowable from the profits derived from the Windmill unit, starting from A.Y. 2009-10, which is the “initial assessment year” chosen by the assessee. The earlier year losses cannot be set off against the profits for eligible units in this year. - Decided in favour of assessee.
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