https://www.taxtmi.com/caselaws?id=331529 The Tribunal allowed the appeal of the assessee regarding the denial of deduction under section 80IA for windmill projects and the notional adjustment of past losses against business income. Relying on a CBDT circular and a Madras High Court judgment, the Tribunal held that the initial assessment year for claiming the deduction is the year chosen by the assessee. The Tribunal directed the Assessing Officer to allow the deduction after verifying the initial assessment year selected by the assessee, following the precedent set in a previous case. The decision favored the assessee and was issued on 20.07.2016. en-us Wed, 20 Jul 2016 00:00:00 +0530 Fri, 26 Aug 2016 13:27:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331529 The Tribunal allowed the appeal of the assessee regarding the denial of deduction under section 80IA for windmill projects and the notional adjustment of past losses against business income. Relying on a CBDT circular and a Madras High Court judgment, the Tribunal held that the initial assessment year for claiming the deduction is the year chosen by the assessee. The Tribunal directed the Assessing Officer to allow the deduction after verifying the initial assessment year selected by the assessee, following the precedent set in a previous case. The decision favored the assessee and was issued on 20.07.2016. Case-Laws Income Tax Wed, 20 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331529