https://www.taxtmi.com/caselaws?id=238958 The Tribunal upheld the decision allowing the assessee engaged in power generation through windmills to set off losses from that business against income from other sources. It emphasized liberal interpretation of section 80-IA to promote economic growth and clarified that the provisions should not render other sections of the Income-tax Act nugatory. The Tribunal referred to precedents and legal principles, affirming the Commissioner's decision and dismissing the Revenue's appeal. The judgment on October 1, 2012, confirmed the set off of losses against income under other heads for the assessee. en-us Mon, 01 Oct 2012 00:00:00 +0530 Thu, 24 Oct 2013 20:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238958 The Tribunal upheld the decision allowing the assessee engaged in power generation through windmills to set off losses from that business against income from other sources. It emphasized liberal interpretation of section 80-IA to promote economic growth and clarified that the provisions should not render other sections of the Income-tax Act nugatory. The Tribunal referred to precedents and legal principles, affirming the Commissioner's decision and dismissing the Revenue's appeal. The judgment on October 1, 2012, confirmed the set off of losses against income under other heads for the assessee. Case-Laws Income Tax Mon, 01 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238958