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2016 (7) TMI 675 - MADRAS HIGH COURTReopening of assessment - entitlement to deduction under Section 80 IA without setting off the losses/unabsorbed depreciation pertaining to the windmill - Held that:- Once the losses and other deductions are set off against the income of the assessee in the previous year, it should not be re-opened again, for the purpose of computation of current year income, under Section 80-I and 80-IA of the Act. M/s.Velayudhaswamy Spinning Mills (P) Ltd., v. Assistant Commissioner of Income-Tax [2010 (3) TMI 860 - Madras High Court ] - Decided in favour of the assessee.
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