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2017 (6) TMI 176 - AT - Income TaxEligibility to deduction u/s 10A - whether brought forward unabsorbed depreciation and business losses of the Assessee was not liable to be set-off earlier to the set off claim of the assessee’s unit u/s.10A? - Held that:- Using the old machines nowhere disentitled the assessee to raise the claim u/s 10A of the Act and it is also held that the claim of the assessee is entitled to be set off u/s.10A of the Act earlier to the claim of brought forward unabsorbed depreciation and business loss. Technivision Ventures Ltd. Undoubtedly, the claim of the Assessee for deduction u/s 10A accepted. Thereafter, an application for giving effect to the order was filed in which brought forward unabsorbed depreciation and business loss was allowed subsequently to set off the claim of deduction u/s. 10A of the Act. See The Commissioner of Income Tax-10 Versus Black & Veatch Consulting Pvt. Ltd. [2012 (4) TMI 450 - BOMBAY HIGH COURT ] and Commissioner of Income Tax Vs. Yokojawa India [2016 (12) TMI 881 - SUPREME COURT] - Decided against revenue
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