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2016 (11) TMI 1067 - ITAT MUMBAIDeduction claimed under Section 80-IC(3)(ii) - carry forward and set off of losses - Held that:- From the record we found that during the year under consideration, the assessee has no unabsorbed carry forward loss in respect of eligible undertaking at Uttarakhand. Losses of earlier assessment years 2008-2009 and 2009-2010 in Uttarakhand unit had already been set off against the profit of unit at Mumbai. Thus, the undisputed facts are that assessee has claimed for the first time during the year under consideration its claim of deduction u/s. 80IC in respect of its Uttarakhand unit. Since Uttarakhand unit has no unabsorbed carry forward losses during the year under consideration, therefore, assessee has claimed deduction in respect of the entire income of the Uttarakhand unit during the year under consideration. The undisputed facts are that losses of assessment years 2008-2009 and 2009-2010 have already been set off against the income of unit at Mumbai. The said losses were not available to be carried forward and set off during the year under consideration i.e., assessment year 2010-2011 under these facts and circumstances, applying the proposition of laws discussed above as referred by learned AR, we do not find any merit in the action of lower authorities for notionally carry forward and set off of losses which have already been set off in the earlier years against the profit of eligible unit during A.Y.2010-11 under consideration.
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