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TMI Blog2020 (11) TMI 16X X X X Extracts X X X X X X X X Extracts X X X X ..... MR. JUSTICE J.B.PARDIWALA) 1. This tax appeal under Section 260A of the Income Tax Act, 1961 is at the instance of the revenue and is directed against the order passed by the Income Tax Appellate Tribunal, "B" Bench, Ahmedabad dated 04.09.2019 in the ITA No.1356/Ahd/2016 for the A.Y. 2009-10. The Revenue has proposed a solitary question of law for the consideration of this Court. The same reads ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be paid under the MAT for the income of Rs. 4,77,79,483/- under Section 115JB of the Act. 3. For the year under consideration, the assessee claimed deduction of Rs. 3,96,60,132/- under Section 10A of the Act. The asseesseee had set off business loss of Rs. 2,91,07,555/- pertaining to A.Y.2008-09 against the income of the current year. 4. The Principal Commissioner took up the assessment order i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cceeded before the Appellate Tribunal. The Appellate Tribunal allowed the appeal filed by the assessee and set aside the order passed by the Principal Commissioner. The Appellate Tribunal, while allowing the appeal of the assessee, held as under; "In view of the ratio laid down by the Hon'ble Jurisdictional High Court that the deduction u/s 10A has to be allowed before set off of unabsorbed loss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the order passed by the Learned PCIT in order to invoke the provision of section 263 of the Act in order to reopen the assessment of the appellant company. Hence, the order impugned is being devoid of merit and thus quashed." 7. Having heard Ms. Bhatt, the learned senior counsel appearing for the Revenue and having gone through the materials on record, we see no good reason to disturb the o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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