https://www.taxtmi.com/caselaws?id=265310 The Tribunal upheld the CIT(Appeals) decision allowing deduction under section 10B without setting off brought forward losses. It dismissed the Revenue's appeal, emphasizing that the deduction should be from the profits of the eligible unit without setting off losses from non-eligible units. The judgment relied on High Court decisions and clarified that benefits under section 10B are in the nature of exemption, not subject to set off against losses of other units. The Tribunal's decision was based on commercial principles and legal precedents, affirming the specific treatment of losses and profits for eligible units under section 10B. en-us Fri, 07 Aug 2015 00:00:00 +0530 Sat, 10 Oct 2015 06:38:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265310 The Tribunal upheld the CIT(Appeals) decision allowing deduction under section 10B without setting off brought forward losses. It dismissed the Revenue's appeal, emphasizing that the deduction should be from the profits of the eligible unit without setting off losses from non-eligible units. The judgment relied on High Court decisions and clarified that benefits under section 10B are in the nature of exemption, not subject to set off against losses of other units. The Tribunal's decision was based on commercial principles and legal precedents, affirming the specific treatment of losses and profits for eligible units under section 10B. Case-Laws Income Tax Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265310