https://www.taxtmi.com/caselaws?id=220586 The Tribunal held that the initial assessment year for claiming deduction under Section 80IA should be the year when the deduction was first claimed, not the year of first generation of power. It ruled that only losses from the chosen initial assessment year should be considered, not those already set off. The Tribunal followed the decisions of the High Courts and directed the Assessing Officer to allow the deduction without bringing forward notional losses or depreciation from prior years. The appeals were allowed in favor of the assessee. en-us Wed, 28 Sep 2011 00:00:00 +0530 Tue, 05 Apr 2016 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220586 The Tribunal held that the initial assessment year for claiming deduction under Section 80IA should be the year when the deduction was first claimed, not the year of first generation of power. It ruled that only losses from the chosen initial assessment year should be considered, not those already set off. The Tribunal followed the decisions of the High Courts and directed the Assessing Officer to allow the deduction without bringing forward notional losses or depreciation from prior years. The appeals were allowed in favor of the assessee. Case-Laws Income Tax Wed, 28 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220586