https://www.taxtmi.com/caselaws?id=265548 The court confirmed that the respondents/assessees are entitled to claim deductions under Section 80-IA of the Income Tax Act without reopening losses and deductions set off in previous years. It emphasized that losses from years prior to the initial assessment year should not be brought forward for deduction purposes. The court dismissed the Revenue's appeals, upholding the Tribunal's decision in favor of the assessees, citing consistency with previous rulings and rejecting the need to reconsider the established principles. en-us Mon, 28 Sep 2015 00:00:00 +0530 Tue, 13 Oct 2015 06:38:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265548 The court confirmed that the respondents/assessees are entitled to claim deductions under Section 80-IA of the Income Tax Act without reopening losses and deductions set off in previous years. It emphasized that losses from years prior to the initial assessment year should not be brought forward for deduction purposes. The court dismissed the Revenue's appeals, upholding the Tribunal's decision in favor of the assessees, citing consistency with previous rulings and rejecting the need to reconsider the established principles. Case-Laws Income Tax Mon, 28 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265548