https://www.taxtmi.com/caselaws?id=267839 The Court ruled in favor of the respondent company, holding that they were entitled to the benefits under Section 72A of the Income Tax Act. The appeal by the Revenue challenging the Tribunal's order disallowing business loss and unabsorbed depreciation set off was dismissed, with the judgment favoring the respondent company. The Court emphasized that the provision should be liberally interpreted in favor of the assessee, ultimately deciding that the losses from the power generation unit could be set off as per the conditions of Section 72A. en-us Fri, 16 Oct 2015 00:00:00 +0530 Mon, 16 Nov 2015 01:24:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267839 The Court ruled in favor of the respondent company, holding that they were entitled to the benefits under Section 72A of the Income Tax Act. The appeal by the Revenue challenging the Tribunal's order disallowing business loss and unabsorbed depreciation set off was dismissed, with the judgment favoring the respondent company. The Court emphasized that the provision should be liberally interpreted in favor of the assessee, ultimately deciding that the losses from the power generation unit could be set off as per the conditions of Section 72A. Case-Laws Income Tax Fri, 16 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267839