https://www.taxtmi.com/caselaws?id=177229 The Tribunal dismissed both the Revenue's appeal and the Cross Objection by the assessee, upholding the CIT(Appeals) decisions for the assessment year 2005-06. The Revenue's challenge regarding the deduction u/s 80-IA was rejected, affirming that notional unabsorbed depreciation cannot be carried forward for the initial assessment year. Additionally, the Cross Objection disputing the allocation of common expenses to the Pondicherry unit was dismissed, with the Tribunal finding the Assessing Officer's allocation based on total turnover to be reasonable. en-us Thu, 21 Apr 2011 00:00:00 +0530 Tue, 05 Jan 2016 17:57:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177229 The Tribunal dismissed both the Revenue's appeal and the Cross Objection by the assessee, upholding the CIT(Appeals) decisions for the assessment year 2005-06. The Revenue's challenge regarding the deduction u/s 80-IA was rejected, affirming that notional unabsorbed depreciation cannot be carried forward for the initial assessment year. Additionally, the Cross Objection disputing the allocation of common expenses to the Pondicherry unit was dismissed, with the Tribunal finding the Assessing Officer's allocation based on total turnover to be reasonable. Case-Laws Income Tax Thu, 21 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177229