Losses and depreciation of the years earlier to the initial ...

Income Tax

April 12, 2016

Losses and depreciation of the years earlier to the initial assessment year which have already been absorbed against the profits of other business cannot be notionally brought forward and set off against the profits of the eligible business for computing the deduction u/s.80IA - AT

View Source

← Previous Next →

Losses and depreciation of the years earlier to the initial ...

Income Tax

April 12, 2016

You may also like:

The assessee had the option to opt for the 'Initial assessment year' for claiming deduction u/s 80IA and hence, loss or depreciation in the year earlier to 'initial...

Losses and depreciation of the years earlier to the initial assessment year which have already been absorbed against profits of other businesses cannot be notionally...

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...

Brought forward and Setoff of business expenditure and business loss against “Income from House Property“ when business has already closed in earlier year - Section 71 -...

Deduction u/s.80IA(4) - The assessee while determining the eligible profit, is not required to notionally reduce losses arising from eligible business in the earlier...

Once the assessee exercises the option of claiming deduction from a particular assessment year, then only losses of the years beginning from initial assessment year...

Disallowance of depreciation on the Project Berth - cost of construction / development - Circular can be applied retrospectively in respect of deductions claimed in...

Deduction u/s 80IA - AO directed to compute the profits u/s 80IA(5) if such eligible business is the only sources of income and only the losses of the years beginning...

Assessing Officer directed to allow set off of current year's business loss as well as the brought forward business loss/unabsorbed depreciation against the income...

MAT computation u/s 115JB - In this case, the assessee had incurred business loss / depreciation losses as per books in the AYs 1999-00 & 2000-01 & AYs 2011-12 & 2012-13...

Quick Updates: