https://www.taxtmi.com/caselaws?id=256541 Section 80-IA deduction is computed on the basis that the eligible business is the only source of income from the initial assessment year, but the legal fiction in sub-section (5) is confined to that computation. Earlier losses that had already been set off and absorbed against other income cannot be notionally brought forward again to reduce the deduction. The analysis therefore treats Chapter VI-A relief as a profit-linked incentive and limits retrospective reopening of prior-year losses for section 80-IA computation. en-us Wed, 04 Feb 2015 00:00:00 +0530 Wed, 12 Aug 2015 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256541 Section 80-IA deduction is computed on the basis that the eligible business is the only source of income from the initial assessment year, but the legal fiction in sub-section (5) is confined to that computation. Earlier losses that had already been set off and absorbed against other income cannot be notionally brought forward again to reduce the deduction. The analysis therefore treats Chapter VI-A relief as a profit-linked incentive and limits retrospective reopening of prior-year losses for section 80-IA computation. Case-Laws Income Tax Wed, 04 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256541