https://www.taxtmi.com/caselaws?id=277563 The Tribunal allowed the appeal of the assessee, determining that the assessment year 2002-03 chosen by the assessee would be the "initial assessment year" for claiming deduction under Section 80IA. Notional brought forward losses/depreciation of the 67.5 MW unit for the period from 1997-98 to 2001-02, already set off against other income, should not be adjusted for computing the deduction in 2002-03. The challenge against the reopening of assessment was considered academic and infructuous in light of the decision on the deduction issue. en-us Thu, 19 May 2016 00:00:00 +0530 Tue, 11 Dec 2018 06:26:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277563 The Tribunal allowed the appeal of the assessee, determining that the assessment year 2002-03 chosen by the assessee would be the "initial assessment year" for claiming deduction under Section 80IA. Notional brought forward losses/depreciation of the 67.5 MW unit for the period from 1997-98 to 2001-02, already set off against other income, should not be adjusted for computing the deduction in 2002-03. The challenge against the reopening of assessment was considered academic and infructuous in light of the decision on the deduction issue. Case-Laws Income Tax Thu, 19 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277563