https://www.taxtmi.com/caselaws?id=332296 The Tribunal held that for the computation of deduction under Section 10B of the Income Tax Act, the loss from a non-eligible unit should be set off against the profit of an eligible unit. It clarified that Section 10B provides for a deduction, not an exemption, and that both profits and losses must be considered in computing total income. The Tribunal followed the precedence of jurisdictional High Court decisions over conflicting judgments from other High Courts, supporting the set-off of losses from non-eligible units against profits of eligible units. Consequently, the appeal of the Revenue was allowed. en-us Wed, 03 Aug 2016 00:00:00 +0530 Wed, 14 Sep 2016 13:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332296 The Tribunal held that for the computation of deduction under Section 10B of the Income Tax Act, the loss from a non-eligible unit should be set off against the profit of an eligible unit. It clarified that Section 10B provides for a deduction, not an exemption, and that both profits and losses must be considered in computing total income. The Tribunal followed the precedence of jurisdictional High Court decisions over conflicting judgments from other High Courts, supporting the set-off of losses from non-eligible units against profits of eligible units. Consequently, the appeal of the Revenue was allowed. Case-Laws Income Tax Wed, 03 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332296