https://www.taxtmi.com/caselaws?id=344854 The Court dismissed the appeal challenging the eligibility of a company for deduction under Section 80IA of the Income Tax Act, 1961. It upheld the Tribunal's decision to allow the deduction without deducting losses from earlier years, in accordance with the interpretation of Section 80IA(5) provided by the Madras High Court and the Apex Court. The Court emphasized that losses already set off against other income should not be considered for deduction calculation, affirming the Tribunal's ruling and highlighting the finality of legal interpretation in similar cases. en-us Wed, 14 Jun 2017 00:00:00 +0530 Thu, 29 Jun 2017 12:53:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344854 The Court dismissed the appeal challenging the eligibility of a company for deduction under Section 80IA of the Income Tax Act, 1961. It upheld the Tribunal's decision to allow the deduction without deducting losses from earlier years, in accordance with the interpretation of Section 80IA(5) provided by the Madras High Court and the Apex Court. The Court emphasized that losses already set off against other income should not be considered for deduction calculation, affirming the Tribunal's ruling and highlighting the finality of legal interpretation in similar cases. Case-Laws Income Tax Wed, 14 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344854