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2016 (5) TMI 256 - AT - Income TaxDisallowance under section 80-IA - choosing of the initial assessment year - Held that:- Choosing of the initial assessment year for claiming deduction under section 80-IA of the Act in a block of ten years out of fifteen years is with the assessee, i.e., it is the option of the assessee to choose the initial assessment year for claiming deduction under section 80-IA of the Act. Further, the loss claimed by the assessee in respect of eligible business is to be set off against the income of the assessee from other ineligible business as in respect of the assessment years and there is no need to notion ally carry forward these losses up to the initial assessment year and write off the same out of the profits of eligible business. - Decided in favour of assessee
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