Rectification u/s 154 - setting off of losses while allowing ...

Income Tax

August 22, 2019

Rectification u/s 154 - setting off of losses while allowing deduction u/s 80IA - whether the loss from the eligible units can be set off from the profits of other eligible units is a debatable issue and therefore, it cannot be rectified as u/s 154 only glaring and apparent can be rectified

View Source

← Previous Next →

Rectification u/s 154 - setting off of losses while allowing ...

Income Tax

August 22, 2019

You may also like:

Set off of losses against income from STP units - the loss from other business activities should not be set off against profits derived from eligible industrial undertaking - AT

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...

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

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

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...

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

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

Computation of deduction u/s 80IA - eligible business shall be treated as the only source of income- Assessee is eligible to deduction without adjustment of loss of other unit.

Exemption u/s 10B - 100% EOU - there was a loss in the Unit eligible for deduction u/s. 10B and there was a business income in an another Unit. Therefore, while...

Allowance of deduction u/s 80IA - the unabsorbed depreciation set off in earlier years cannot be reduced from the profits for computing the deduction u/s 80IA - AT

Quick Updates: