https://www.taxtmi.com/caselaws?id=329811 The High Court ruled in favor of the assessee in a case concerning the calculation of deductions under Section 80-IA of the Income Tax Act, 1961 for individual undertakings. The Court held that the income of each industrial undertaking eligible for deduction should be determined separately, not collectively, emphasizing the need to assess profits and losses of individual units independently. The Court set aside the Tribunal's order and directed a fresh order to be passed in accordance with this interpretation, highlighting the importance of correctly applying the provisions of the Income Tax Act for fair assessment of deductions. en-us Wed, 06 Jul 2016 00:00:00 +0530 Sat, 09 Jul 2016 12:14:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329811 The High Court ruled in favor of the assessee in a case concerning the calculation of deductions under Section 80-IA of the Income Tax Act, 1961 for individual undertakings. The Court held that the income of each industrial undertaking eligible for deduction should be determined separately, not collectively, emphasizing the need to assess profits and losses of individual units independently. The Court set aside the Tribunal's order and directed a fresh order to be passed in accordance with this interpretation, highlighting the importance of correctly applying the provisions of the Income Tax Act for fair assessment of deductions. Case-Laws Income Tax Wed, 06 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329811