https://www.taxtmi.com/caselaws?id=211353 HC held that profits of a section 10A unit must be excluded at source before computing gross total income. Consequently, losses of non-section 10A units cannot be set off against section 10A profits under sections 32(1) and 72(2). Since section 10A profits are not includible in the assessee's total income, neither current nor unabsorbed business losses nor unabsorbed depreciation can be adjusted against such profits. The assessment order allowing such set-off was contrary to law, and the orders of the Appellate Commissioner and Tribunal granting section 10A benefit were upheld. The substantial question of law was answered in favour of the assessee and against the Revenue. en-us Tue, 09 Aug 2011 00:00:00 +0530 Mon, 01 Dec 2025 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211353 HC held that profits of a section 10A unit must be excluded at source before computing gross total income. Consequently, losses of non-section 10A units cannot be set off against section 10A profits under sections 32(1) and 72(2). Since section 10A profits are not includible in the assessee's total income, neither current nor unabsorbed business losses nor unabsorbed depreciation can be adjusted against such profits. The assessment order allowing such set-off was contrary to law, and the orders of the Appellate Commissioner and Tribunal granting section 10A benefit were upheld. The substantial question of law was answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Tue, 09 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211353