https://www.taxtmi.com/caselaws?id=255921 The High Court dismissed the Tax Case (Appeal) filed by the Revenue, confirming the Tribunal's order that the assessee is entitled to the deduction under Section 80-IA of the Income Tax Act. The Court held that losses of earlier years, which were already set off, should not be reopened for computing current year income for the purpose of Section 80-IA deductions. The questions of law were answered against the Revenue and in favor of the assessee. No costs were imposed. en-us Wed, 21 Jan 2015 00:00:00 +0530 Fri, 30 Jan 2015 08:40:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255921 The High Court dismissed the Tax Case (Appeal) filed by the Revenue, confirming the Tribunal's order that the assessee is entitled to the deduction under Section 80-IA of the Income Tax Act. The Court held that losses of earlier years, which were already set off, should not be reopened for computing current year income for the purpose of Section 80-IA deductions. The questions of law were answered against the Revenue and in favor of the assessee. No costs were imposed. Case-Laws Income Tax Wed, 21 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255921