https://www.taxtmi.com/caselaws?id=211492 The High Court upheld the Tribunal's decision and previous judgment, dismissing the appeals. The Court ruled in favor of the assessee, allowing the set off of unabsorbed depreciation against business income. It held that the set off should be granted before the exemption under Section 10A of the Income Tax Act, following the precedent that profits under Section 10A should be excluded from the total income, thus disallowing the set off of losses against such profits. en-us Mon, 12 Dec 2011 00:00:00 +0530 Wed, 16 May 2012 19:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211492 The High Court upheld the Tribunal's decision and previous judgment, dismissing the appeals. The Court ruled in favor of the assessee, allowing the set off of unabsorbed depreciation against business income. It held that the set off should be granted before the exemption under Section 10A of the Income Tax Act, following the precedent that profits under Section 10A should be excluded from the total income, thus disallowing the set off of losses against such profits. Case-Laws Income Tax Mon, 12 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211492