https://www.taxtmi.com/caselaws?id=68945 The Tribunal allowed the appeal of the assessee, who was engaged in software services, regarding the set off of losses against income eligible for deduction under section 10B of the Income-tax Act, 1961. The Tribunal concluded that section 10B(6)(ii) restricts the set off of losses only for those directly related to the eligible undertaking, not domestic units. It directed the Assessing Officer to permit the set off of losses against the business income, overturning the previous decision by the Commissioner of Income-tax (Appeals). en-us Fri, 20 Jul 2007 00:00:00 +0530 Wed, 07 Feb 2024 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68945 The Tribunal allowed the appeal of the assessee, who was engaged in software services, regarding the set off of losses against income eligible for deduction under section 10B of the Income-tax Act, 1961. The Tribunal concluded that section 10B(6)(ii) restricts the set off of losses only for those directly related to the eligible undertaking, not domestic units. It directed the Assessing Officer to permit the set off of losses against the business income, overturning the previous decision by the Commissioner of Income-tax (Appeals). Case-Laws Income Tax Fri, 20 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68945