https://www.taxtmi.com/caselaws?id=261059 Section 80-IA deduction is a profit-linked incentive, and the eligible business must be computed in the manner prescribed by the provision. The deeming fiction in section 80-IA(5) applies only for calculating deduction from the initial assessment year onwards by treating the eligible business as the sole source of income for that limited purpose. Losses or depreciation from earlier years that have already been absorbed against other income do not revive for a notional carry-forward or recomputation under section 80-IA(5) when the assessee exercises the option under section 80-IA(2). en-us Tue, 23 Jun 2015 00:00:00 +0530 Wed, 01 Jul 2015 06:47:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261059 Section 80-IA deduction is a profit-linked incentive, and the eligible business must be computed in the manner prescribed by the provision. The deeming fiction in section 80-IA(5) applies only for calculating deduction from the initial assessment year onwards by treating the eligible business as the sole source of income for that limited purpose. Losses or depreciation from earlier years that have already been absorbed against other income do not revive for a notional carry-forward or recomputation under section 80-IA(5) when the assessee exercises the option under section 80-IA(2). Case-Laws Income Tax Tue, 23 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261059