https://www.taxtmi.com/caselaws?id=261406 The High Court dismissed the Tax Case (Appeal), confirming the Tribunal's order and ruling in favor of the assessee. The Court held that the assessee is entitled to claim deduction under Section 80-IA of the Income Tax Act, and previous losses set off against other income should not be reopened for current year computation. The pending appeals before the Supreme Court did not alter the Court's decision, as the facts were identical to the previously decided case of Velayudhaswamy Spinning Mills. en-us Thu, 25 Jun 2015 00:00:00 +0530 Sat, 11 Jul 2015 05:57:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261406 The High Court dismissed the Tax Case (Appeal), confirming the Tribunal's order and ruling in favor of the assessee. The Court held that the assessee is entitled to claim deduction under Section 80-IA of the Income Tax Act, and previous losses set off against other income should not be reopened for current year computation. The pending appeals before the Supreme Court did not alter the Court's decision, as the facts were identical to the previously decided case of Velayudhaswamy Spinning Mills. Case-Laws Income Tax Thu, 25 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261406