https://www.taxtmi.com/caselaws?id=265537 The High Court affirmed the Tribunal's decision in favor of the assessee, allowing the deduction under Section 80-IA of the Income Tax Act. The court held that losses and deductions set off against previous years' income should not be reopened for the current year's income calculation. The decision aligned with prior judgments and emphasized that Section 80-IA provides profit-linked incentives, with the court ruling against the Revenue and in favor of the assessee on the legal issues raised in the appeal. en-us Mon, 21 Sep 2015 00:00:00 +0530 Fri, 16 Oct 2015 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265537 The High Court affirmed the Tribunal's decision in favor of the assessee, allowing the deduction under Section 80-IA of the Income Tax Act. The court held that losses and deductions set off against previous years' income should not be reopened for the current year's income calculation. The decision aligned with prior judgments and emphasized that Section 80-IA provides profit-linked incentives, with the court ruling against the Revenue and in favor of the assessee on the legal issues raised in the appeal. Case-Laws Income Tax Mon, 21 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265537