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TMI Blog2020 (1) TMI 1159X X X X Extracts X X X X X X X X Extracts X X X X ..... ant. 2. This appeal under Section 260A of the Income Tax Act, 1961 ("the Act" for short) has been preferred by the revenue against the order dated 5.5.2016 passed by the Income Tax Appellate Tribunal, Pune Bench "A", Pune ("Tribunal" for short) in Income Tax Appeal No. 1356/PN/2014 for the assessment year 2007-08. 3. Revenue has projected the following three questions as substantial quest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... held that there is no bar in Section 10A of the Act to prohibit the operation of Sections 70, 71, 72 etc unlike Section 80IA(5) or Section 80IA(6) and therefore, by that ratio business losses / depreciation have been rightly set off by the Assessing Officer prior to computing deduction u/S. 10A of the Act? 4. Mr. Suresh Kumar, learned standing counsel, revenue very fairly submits that all the th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns 10A and 10B shall be of the undertaking located in specified zones or 100% Export Oriented Undertakings, as the case may be, and this shall not have any material relationship with the other business of the assessee outside these zones or units for the purposes of this provision." 17. If the specific provisions of the Act provide [first proviso to Sections 10A(1); 10A (1A) and 10A (4)] that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the total income of the assessee from the gross total income. The somewhat discordant use of the expression "total income of the assessee" in Section 10A has already been dealt with earlier and in the overall scenario unfolded by the provisions of Section 10A the aforesaid discord can be reconciled by understanding the expression "total income of the assessee" in Section 10A as 'total income ..... X X X X Extracts X X X X X X X X Extracts X X X X
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