https://www.taxtmi.com/caselaws?id=255624 The High Court ruled in favor of the appellant in a tax case concerning the interpretation of deductions under Section 80I for losses incurred by an industrial undertaking. The Court held that once losses were set off against other income sources, they should not be carried forward for Section 80I deductions. The Court emphasized the importance of legal clarity and consistency in applying rectification provisions under Section 154, ultimately allowing the appeal in favor of the appellant based on a previous decision and the Supreme Court's ruling on the issue. en-us Mon, 12 Jan 2015 00:00:00 +0530 Fri, 08 May 2015 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255624 The High Court ruled in favor of the appellant in a tax case concerning the interpretation of deductions under Section 80I for losses incurred by an industrial undertaking. The Court held that once losses were set off against other income sources, they should not be carried forward for Section 80I deductions. The Court emphasized the importance of legal clarity and consistency in applying rectification provisions under Section 154, ultimately allowing the appeal in favor of the appellant based on a previous decision and the Supreme Court's ruling on the issue. Case-Laws Income Tax Mon, 12 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255624