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2020 (6) TMI 511 - HC - Income TaxRevision u/s 263 - AO has not set off the unabsorbed brought forward depreciation from total income for computing deduction u/s.10A - Whether the Tribunal was correct in not taking into consideration that the non-set off of unabsorbed brought forward depreciation against the total income for computing deduction u/s.10A of the Act, was contrary to the provisions of section 10A and hence the order of assessment was erroneous and prejudicial to the interest of the revenue and hence invoking of section 263? - HELD THAT:- Both parties jointly submitted that the substantial questions of law involved in these appeals have been answered against the revenue by the Supreme Court in ‘COMMISSIONER OF INCOME-TAX Vs. YOKOGAWA INDIA LTD.’ [2016 (12) TMI 881 - SUPREME COURT] Substantial questions of law are answered against the revenue and in favour of the assessee.
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