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2018 (7) TMI 489 - HC - Income TaxEntitled to deduction u/s 80IA without setting off the losses/unabsorbed depreciation pertaining to the windmill, which were set off in the earlier year against other business income of the assessee - Held that:- A Hon'ble Division Bench of this Court in Velayudhaswamy Spinning Mills Pvt. Ltd's case (2010 (3) TMI 860 - MADRAS HIGH COURT), 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. - Decided in favour of assessee.
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