https://www.taxtmi.com/caselaws?id=346416 For section 80IA windmill deductions, the assessee may choose the later year as the initial assessment year, and earlier years' losses of the eligible business are not to be compulsorily carried into the deduction computation so as to defeat that statutory option. The Tribunal also noted that depreciation under section 32 must be considered at the stage of computing total income under the general provisions, before working out the Chapter VIA deduction, and not by confusing that stage with quantification of the eligible deduction. Both issues were decided in principle for the assessee, with the matter remanded for fresh adjudication in accordance with law. en-us Fri, 16 Jun 2017 00:00:00 +0530 Sat, 12 Aug 2017 09:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346416 For section 80IA windmill deductions, the assessee may choose the later year as the initial assessment year, and earlier years' losses of the eligible business are not to be compulsorily carried into the deduction computation so as to defeat that statutory option. The Tribunal also noted that depreciation under section 32 must be considered at the stage of computing total income under the general provisions, before working out the Chapter VIA deduction, and not by confusing that stage with quantification of the eligible deduction. Both issues were decided in principle for the assessee, with the matter remanded for fresh adjudication in accordance with law. Case-Laws Income Tax Fri, 16 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346416