https://www.taxtmi.com/caselaws?id=257040 Section 80-IA is a profit-linked incentive, and section 80-IA(5) operates as a deeming provision only for computing the quantum of deduction by treating the eligible business as the sole source of income for the relevant years. Losses of the undertaking that had already been absorbed in earlier years could not be notionally carried forward again to reduce the deduction. The court followed its earlier decision, found no material factual distinction, and upheld the assessee's entitlement to the deduction while rejecting the Revenue's challenge. en-us Mon, 23 Feb 2015 00:00:00 +0530 Sat, 28 Feb 2015 00:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257040 Section 80-IA is a profit-linked incentive, and section 80-IA(5) operates as a deeming provision only for computing the quantum of deduction by treating the eligible business as the sole source of income for the relevant years. Losses of the undertaking that had already been absorbed in earlier years could not be notionally carried forward again to reduce the deduction. The court followed its earlier decision, found no material factual distinction, and upheld the assessee's entitlement to the deduction while rejecting the Revenue's challenge. Case-Laws Income Tax Mon, 23 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257040