https://www.taxtmi.com/caselaws?id=258797 The Court upheld the Tribunal's decision regarding the calculation of profits from the eligible business, considering the deduction of losses set off against profits from other business. It relied on the judgment of the Special Bench of the Appellate Tribunal, Ahmedabad, and the Madras High Court's interpretation of Section 80-IA(5) of the Income Tax Act. The Court concluded that the set off amounts against other income should be ignored, and the profits from the eligible business should be computed without deducting such losses. Consequently, the appeal was decided in favor of the Revenue and against the assessee. en-us Mon, 07 Jul 2014 00:00:00 +0530 Tue, 21 Apr 2015 07:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258797 The Court upheld the Tribunal's decision regarding the calculation of profits from the eligible business, considering the deduction of losses set off against profits from other business. It relied on the judgment of the Special Bench of the Appellate Tribunal, Ahmedabad, and the Madras High Court's interpretation of Section 80-IA(5) of the Income Tax Act. The Court concluded that the set off amounts against other income should be ignored, and the profits from the eligible business should be computed without deducting such losses. Consequently, the appeal was decided in favor of the Revenue and against the assessee. Case-Laws Income Tax Mon, 07 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258797