https://www.taxtmi.com/caselaws?id=203137 The Tribunal upheld the computation of deduction under Section 80IA of the Income Tax Act, ruling that notional brought forward losses and depreciation must be deducted from the profit of the eligible business unit. Additionally, the Tribunal affirmed the Commissioner of Income Tax's invocation of Section 263, finding the original assessment lacking proper enquiry and reasoning, thus justifying the revision. The Tribunal dismissed all appeals by the assessees, emphasizing the importance of correctly applying the provisions of Section 80IA(5) in assessments. en-us Fri, 21 Jan 2011 00:00:00 +0530 Fri, 06 May 2011 13:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203137 The Tribunal upheld the computation of deduction under Section 80IA of the Income Tax Act, ruling that notional brought forward losses and depreciation must be deducted from the profit of the eligible business unit. Additionally, the Tribunal affirmed the Commissioner of Income Tax's invocation of Section 263, finding the original assessment lacking proper enquiry and reasoning, thus justifying the revision. The Tribunal dismissed all appeals by the assessees, emphasizing the importance of correctly applying the provisions of Section 80IA(5) in assessments. Case-Laws Income Tax Fri, 21 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203137