https://www.taxtmi.com/caselaws?id=336905 The Tribunal dismissed the Revenue's appeals, confirming that the Section 10B deduction should be allowed before setting off brought forward business losses and unabsorbed depreciation. The Tribunal upheld the CIT(A)'s decision, citing legal precedents that supported computing the deduction before adjusting losses. The Tribunal emphasized that unabsorbed depreciation should be set off as current year's depreciation. The orders of the CIT(A) were maintained, in line with interpretations by higher courts, ensuring consistency in the application of tax laws. en-us Mon, 19 Dec 2016 00:00:00 +0530 Thu, 29 Dec 2016 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336905 The Tribunal dismissed the Revenue's appeals, confirming that the Section 10B deduction should be allowed before setting off brought forward business losses and unabsorbed depreciation. The Tribunal upheld the CIT(A)'s decision, citing legal precedents that supported computing the deduction before adjusting losses. The Tribunal emphasized that unabsorbed depreciation should be set off as current year's depreciation. The orders of the CIT(A) were maintained, in line with interpretations by higher courts, ensuring consistency in the application of tax laws. Case-Laws Income Tax Mon, 19 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336905