https://www.taxtmi.com/caselaws?id=209632 HC held for the assessee that "initial assessment year" under s.80-IA(5) means the assessment year in which the deduction is first claimed, not the year of commencement. The statutory fiction allowing an eligible business to be treated as a separate source applies only from that chosen initial assessment year and for the ten-year window; Revenue cannot notionally carry forward or reallocate depreciation and earlier unabsorbed losses that were already set off against other income before the unit first claimed s.80-IA relief. en-us Thu, 11 Mar 2010 00:00:00 +0530 Sat, 30 Aug 2025 14:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209632 HC held for the assessee that "initial assessment year" under s.80-IA(5) means the assessment year in which the deduction is first claimed, not the year of commencement. The statutory fiction allowing an eligible business to be treated as a separate source applies only from that chosen initial assessment year and for the ten-year window; Revenue cannot notionally carry forward or reallocate depreciation and earlier unabsorbed losses that were already set off against other income before the unit first claimed s.80-IA relief. Case-Laws Income Tax Thu, 11 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209632