https://www.taxtmi.com/caselaws?id=273332 The Supreme Court dismissed appeals by the Assessee and the Revenue, upholding the CIT(A)'s decision. The case involved the addition of unabsorbed depreciation of Section 10B exempted units to profits and the set off of losses of Section 10B units with non-exempted income. The Court ruled that deductions under Section 10B should be calculated independently for each eligible unit, emphasizing that unabsorbed depreciation of one eligible unit cannot be adjusted with the profit of another eligible unit. The decision aligned with the Supreme Court's interpretation of Sections 10A and 10B of the Income Tax Act, 1961. en-us Fri, 28 Apr 2017 00:00:00 +0530 Mon, 18 Jun 2018 13:11:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273332 The Supreme Court dismissed appeals by the Assessee and the Revenue, upholding the CIT(A)'s decision. The case involved the addition of unabsorbed depreciation of Section 10B exempted units to profits and the set off of losses of Section 10B units with non-exempted income. The Court ruled that deductions under Section 10B should be calculated independently for each eligible unit, emphasizing that unabsorbed depreciation of one eligible unit cannot be adjusted with the profit of another eligible unit. The decision aligned with the Supreme Court's interpretation of Sections 10A and 10B of the Income Tax Act, 1961. Case-Laws Income Tax Fri, 28 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273332