https://www.taxtmi.com/caselaws?id=259101 The court upheld the Tribunal's decision, dismissing the Revenue's appeal and ruling in favor of the assessee regarding the entitlement to claim deduction under Section 80-IA of the Income Tax Act. The court emphasized that losses set off against other income in previous years should not be reopened for current year computation under Section 80-IA, citing relevant case law and clarifying the interpretation of sub-section (5) of the Act. The final judgment favored the assessee, allowing them to claim the deduction under Section 80-IA. en-us Tue, 21 Apr 2015 00:00:00 +0530 Fri, 24 Jun 2016 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259101 The court upheld the Tribunal's decision, dismissing the Revenue's appeal and ruling in favor of the assessee regarding the entitlement to claim deduction under Section 80-IA of the Income Tax Act. The court emphasized that losses set off against other income in previous years should not be reopened for current year computation under Section 80-IA, citing relevant case law and clarifying the interpretation of sub-section (5) of the Act. The final judgment favored the assessee, allowing them to claim the deduction under Section 80-IA. Case-Laws Income Tax Tue, 21 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259101