https://www.taxtmi.com/caselaws?id=205436 The High Court ruled in favor of the appellant/assessee in Tax Cases 909 and 940 of 2009, allowing the deduction under section 80IA for Wind Mill installation without reducing unabsorbed depreciation from earlier years from profits. The Court emphasized that losses or deductions already set off against previous year's income need not be reopened for current income computation under Section 80IA, aligning with previous decisions and rejecting the notion of notionally carrying forward losses absorbed against profits from other businesses. en-us Tue, 10 Aug 2010 00:00:00 +0530 Sat, 11 Jun 2011 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205436 The High Court ruled in favor of the appellant/assessee in Tax Cases 909 and 940 of 2009, allowing the deduction under section 80IA for Wind Mill installation without reducing unabsorbed depreciation from earlier years from profits. The Court emphasized that losses or deductions already set off against previous year's income need not be reopened for current income computation under Section 80IA, aligning with previous decisions and rejecting the notion of notionally carrying forward losses absorbed against profits from other businesses. Case-Laws Income Tax Tue, 10 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205436