https://www.taxtmi.com/caselaws?id=178960 The Appellate Tribunal ITAT Chennai ruled in a case concerning the deduction under section 80IA of the Income Tax Act. The issue was whether a notional loss brought forward could be adjusted for claiming the deduction. The Tribunal upheld the CIT(A)'s decision to allow the deduction based on a judgment of the Jurisdictional High Court, despite a pending appeal before the Apex Court. The Tribunal emphasized that the High Court's judgment was directly applicable and confirmed the CIT(A)'s order, dismissing the Revenue's appeal. The decision was rendered on July 31, 2015, in Chennai. en-us Fri, 31 Jul 2015 00:00:00 +0530 Wed, 17 Feb 2016 10:03:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178960 The Appellate Tribunal ITAT Chennai ruled in a case concerning the deduction under section 80IA of the Income Tax Act. The issue was whether a notional loss brought forward could be adjusted for claiming the deduction. The Tribunal upheld the CIT(A)'s decision to allow the deduction based on a judgment of the Jurisdictional High Court, despite a pending appeal before the Apex Court. The Tribunal emphasized that the High Court's judgment was directly applicable and confirmed the CIT(A)'s order, dismissing the Revenue's appeal. The decision was rendered on July 31, 2015, in Chennai. Case-Laws Income Tax Fri, 31 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178960