https://www.taxtmi.com/caselaws?id=371757 The Tribunal upheld the Commissioner's decision, allowing the deduction under section 80IA of the Income Tax Act without adjusting brought forward losses against current year income. It was determined that losses of earlier years need not be notionally carried forward for set off against the profits of the eligible business. The judgment relied on established legal principles and precedents, confirming the eligibility for deduction and the assessee's right to choose the initial assessment year for claiming relief under section 80IA. en-us Fri, 07 Dec 2018 00:00:00 +0530 Mon, 10 Dec 2018 09:42:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371757 The Tribunal upheld the Commissioner's decision, allowing the deduction under section 80IA of the Income Tax Act without adjusting brought forward losses against current year income. It was determined that losses of earlier years need not be notionally carried forward for set off against the profits of the eligible business. The judgment relied on established legal principles and precedents, confirming the eligibility for deduction and the assessee's right to choose the initial assessment year for claiming relief under section 80IA. Case-Laws Income Tax Fri, 07 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371757