https://www.taxtmi.com/caselaws?id=260521 The ITAT Mumbai upheld the CIT(A)'s decision in favor of the assessee, dismissing the Revenue's appeal. The Tribunal ruled that the deduction under section 10B should be allowed before setting off brought forward business losses, citing judicial precedents. Additionally, the disallowance of deduction for repairs and maintenance was overturned as the assessee rectified the error in the income computation, preventing double taxation. en-us Wed, 27 May 2015 00:00:00 +0530 Tue, 16 Jun 2015 08:35:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260521 The ITAT Mumbai upheld the CIT(A)'s decision in favor of the assessee, dismissing the Revenue's appeal. The Tribunal ruled that the deduction under section 10B should be allowed before setting off brought forward business losses, citing judicial precedents. Additionally, the disallowance of deduction for repairs and maintenance was overturned as the assessee rectified the error in the income computation, preventing double taxation. Case-Laws Income Tax Wed, 27 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260521