https://www.taxtmi.com/caselaws?id=261784 Section 80-IA deduction is a profit-linked incentive computed by treating the eligible business as the only source of income for the relevant period. The deeming fiction used for this computation is confined to that purpose and does not authorise reopening earlier losses that have already been set off and absorbed against other income. Accordingly, such absorbed losses cannot be notionally carried forward again to reduce current eligible profits. On that basis, the assessee was entitled to the deduction under section 80-IA and the Revenue's challenge failed. en-us Wed, 08 Jul 2015 00:00:00 +0530 Sat, 18 Jun 2016 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261784 Section 80-IA deduction is a profit-linked incentive computed by treating the eligible business as the only source of income for the relevant period. The deeming fiction used for this computation is confined to that purpose and does not authorise reopening earlier losses that have already been set off and absorbed against other income. Accordingly, such absorbed losses cannot be notionally carried forward again to reduce current eligible profits. On that basis, the assessee was entitled to the deduction under section 80-IA and the Revenue's challenge failed. Case-Laws Income Tax Wed, 08 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261784