https://www.taxtmi.com/caselaws?id=352988 The Tribunal upheld the allowance of deduction under section 80IA of the Income Tax Act undertaking wise, rejecting the Revenue's appeal. It determined that each windmill constituted a separate undertaking eligible for deduction, not to be offset by losses from other units. The decision aligned with previous cases and distinguished a Gujarat High Court ruling where income was Nil post-loss adjustment. Therefore, the deduction for profit earned from wind power generation was upheld on an undertaking-wise basis for the assessment year 2011-12. en-us Wed, 20 Dec 2017 00:00:00 +0530 Tue, 26 Dec 2017 08:40:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352988 The Tribunal upheld the allowance of deduction under section 80IA of the Income Tax Act undertaking wise, rejecting the Revenue's appeal. It determined that each windmill constituted a separate undertaking eligible for deduction, not to be offset by losses from other units. The decision aligned with previous cases and distinguished a Gujarat High Court ruling where income was Nil post-loss adjustment. Therefore, the deduction for profit earned from wind power generation was upheld on an undertaking-wise basis for the assessment year 2011-12. Case-Laws Income Tax Wed, 20 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352988