https://www.taxtmi.com/caselaws?id=260221 For deduction under section 80-IA, earlier years' losses and deductions that had already been set off against other income could not be notionally brought forward again to reduce the profits of the eligible business. The Madras HC treated section 80-IA(5) as a special computation provision creating a limited fiction for the initial assessment year and subsequent years, but not authorising recomputation of losses from years preceding the initial year after those losses had already been absorbed. The assessee was therefore entitled to claim the deduction without reintroducing those earlier set-off losses, and the Revenue's challenge failed. en-us Mon, 01 Jun 2015 00:00:00 +0530 Fri, 05 Jun 2015 13:25:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260221 For deduction under section 80-IA, earlier years' losses and deductions that had already been set off against other income could not be notionally brought forward again to reduce the profits of the eligible business. The Madras HC treated section 80-IA(5) as a special computation provision creating a limited fiction for the initial assessment year and subsequent years, but not authorising recomputation of losses from years preceding the initial year after those losses had already been absorbed. The assessee was therefore entitled to claim the deduction without reintroducing those earlier set-off losses, and the Revenue's challenge failed. Case-Laws Income Tax Mon, 01 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260221