https://www.taxtmi.com/caselaws?id=262267 Chapter VI-A deduction was treated as a profit-linked incentive, and the deeming fiction in section 80-IA(5) required the eligible business to be computed as if it were the only source of income for the relevant period. Prior years' losses and depreciation that had already been absorbed could not be notionally brought forward again for recomputation of current-year profits. As the assessee had exercised the section 80-IA option and the earlier losses were already set off, the deduction claim could not be denied on that basis, and the Revenue's challenge failed. en-us Wed, 22 Jul 2015 00:00:00 +0530 Thu, 06 Aug 2015 06:45:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262267 Chapter VI-A deduction was treated as a profit-linked incentive, and the deeming fiction in section 80-IA(5) required the eligible business to be computed as if it were the only source of income for the relevant period. Prior years' losses and depreciation that had already been absorbed could not be notionally brought forward again for recomputation of current-year profits. As the assessee had exercised the section 80-IA option and the earlier losses were already set off, the deduction claim could not be denied on that basis, and the Revenue's challenge failed. Case-Laws Income Tax Wed, 22 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262267