https://www.taxtmi.com/caselaws?id=218143 The Tribunal upheld the decision of CIT (A) allowing the setoff of business loss exempted u/s.10A against house property income and income from other sources. It emphasized that Sec. 14A pertains to expenditure, not losses, and allowed the setoff based on precedents like Navin Bharat Ind. Ltd. vs. DCIT and Sovika Infoteck Ltd. vs. ITO. The interpretation of Sec. 10A and Sec. 14A highlighted that Sec. 10A provides for deduction, not exemption, and Sec. 14A applies to expenditure, not losses. The Tribunal dismissed the Revenue's appeal, affirming the allowance of the setoff. en-us Fri, 12 Oct 2012 00:00:00 +0530 Thu, 01 Nov 2012 09:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218143 The Tribunal upheld the decision of CIT (A) allowing the setoff of business loss exempted u/s.10A against house property income and income from other sources. It emphasized that Sec. 14A pertains to expenditure, not losses, and allowed the setoff based on precedents like Navin Bharat Ind. Ltd. vs. DCIT and Sovika Infoteck Ltd. vs. ITO. The interpretation of Sec. 10A and Sec. 14A highlighted that Sec. 10A provides for deduction, not exemption, and Sec. 14A applies to expenditure, not losses. The Tribunal dismissed the Revenue's appeal, affirming the allowance of the setoff. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218143