https://www.taxtmi.com/caselaws?id=200507 The appeal involved the reopening of assessment under section 147 of the Income Tax Act, 1961, and the computation of deduction under section 80-IB. The CIT (A) upheld the Assessing Officer's decision to exclude unabsorbed depreciation while computing the allowable deduction, following a Supreme Court judgment. The CIT (A) dismissed the challenge to the reopening and affirmed the treatment of unabsorbed depreciation. On the computation of deduction under section 80-IB, the Tribunal ruled that profits of the eligible unit should not be reduced by setting off losses or unabsorbed depreciation, partially allowing the appeal. en-us Fri, 12 Oct 2012 00:00:00 +0530 Sat, 31 Mar 2018 14:23:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200507 The appeal involved the reopening of assessment under section 147 of the Income Tax Act, 1961, and the computation of deduction under section 80-IB. The CIT (A) upheld the Assessing Officer's decision to exclude unabsorbed depreciation while computing the allowable deduction, following a Supreme Court judgment. The CIT (A) dismissed the challenge to the reopening and affirmed the treatment of unabsorbed depreciation. On the computation of deduction under section 80-IB, the Tribunal ruled that profits of the eligible unit should not be reduced by setting off losses or unabsorbed depreciation, partially allowing the appeal. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200507