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2015 (12) TMI 625 - HC - Income TaxDeductions under Section 80HH and 80I - non adjusting the losses of other loss making industrial undertakings of the same assessee with the profit of eligible profit making units as directed by ITAT - Held that:- In Bajaj Motors P. Limited's case (2011 (3) TMI 475 - PUNJAB AND HARYANA HIGH COURT ), identical issue was considered by this Court. In the said case, the assessee manufactured automobile parts at Gurgaon. It was entitled to deduction under section 80I of the Act. The Assessing Officer took into account loss of the assessee in another manufacturing unit. It was held that the benefit under section 80I of the Act was referable to total income which was required to be worked out after taking into account the loss, if any. This view was upheld by the CIT(A) as well as the Tribunal. This Court while dismissing the appeal of the assessee held that in computing the quantum of deduction under section 80I of the Act, out of the profits and gains of unit No.1, the loss incurred in another independent unit No.2 should be set off against the profits of unit No.1 - Decided in favour of the revenue
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