https://www.taxtmi.com/caselaws?id=257040 The Court upheld the respondent/assessee's entitlement to claim deduction under Section 80-IA of the Income Tax Act, following the decision in Velayudhaswamy Spinning Mills V. Asst. CIT. It emphasized that losses and unabsorbed depreciation should not be considered in computing deductions under Section 80-IA. Despite pending appeals before the Supreme Court, the Court dismissed the appeal, finding no reason to deviate from its previous ruling. The appeal was dismissed in favor of the assessee, with no costs awarded. 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 The Court upheld the respondent/assessee's entitlement to claim deduction under Section 80-IA of the Income Tax Act, following the decision in Velayudhaswamy Spinning Mills V. Asst. CIT. It emphasized that losses and unabsorbed depreciation should not be considered in computing deductions under Section 80-IA. Despite pending appeals before the Supreme Court, the Court dismissed the appeal, finding no reason to deviate from its previous ruling. The appeal was dismissed in favor of the assessee, with no costs awarded. Case-Laws Income Tax Mon, 23 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257040