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Income Tax - Highlights / Catch Notes

Home Highlights December 2013 Year 2013 This

Whether loss of unit entitled to deduction under Section 10-B be ...

Income Tax

December 26, 2013

Whether loss of unit entitled to deduction under Section 10-B be set off against business profits earned by the assessee - Held Yes - HC

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  2. Deduction u/s 35AD and set off u/s 73A against the loss incurred by it in other unit - Loss of assessee on account of a specified business claiming deduction u/s 35AD...

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  4. Set off of loss suffered in a unit entitled for exemption under Section 10B against income from any other unit not eligible for such exemption - not allowed - HC

  5. The deduction under section 10A in respect of the allowable unit under section 10A has to be allowed before setting off brought forwarded losses of a non-section 10A unit - AT

  6. Disallowance u/s 80IA/80IB - There is no requirement u/s 80IA(5) of the Act to adjust profits derived from the eligible units against the losses that stand absorbed...

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  8. Set off of brought forward unabsorbed depreciation and losses of the unit the Income which is not eligible for deduction under Section 10A of the Act - HC

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