https://www.taxtmi.com/caselaws?id=373238 The Tribunal dismissed the Revenue's appeal challenging the eligibility of the assessee for deduction under section 80IA(4)(iv) without setting off earlier years' business losses/unabsorbed depreciation. The Tribunal upheld the CIT(A)'s decision, emphasizing that the provisions of section 80IA(5) are applicable only from the initial assessment year in which the deduction was first claimed by the assessee. Additionally, the Tribunal supported the CIT(A)'s deletion of the addition related to scrap generation, stating that ad-hoc additions without substantiating evidence are impermissible under tax laws. The Tribunal affirmed the overall decision of the CIT(A) and dismissed the Revenue's appeal in its entirety. en-us Mon, 07 Jan 2019 00:00:00 +0530 Wed, 09 Jan 2019 08:24:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373238 The Tribunal dismissed the Revenue's appeal challenging the eligibility of the assessee for deduction under section 80IA(4)(iv) without setting off earlier years' business losses/unabsorbed depreciation. The Tribunal upheld the CIT(A)'s decision, emphasizing that the provisions of section 80IA(5) are applicable only from the initial assessment year in which the deduction was first claimed by the assessee. Additionally, the Tribunal supported the CIT(A)'s deletion of the addition related to scrap generation, stating that ad-hoc additions without substantiating evidence are impermissible under tax laws. The Tribunal affirmed the overall decision of the CIT(A) and dismissed the Revenue's appeal in its entirety. Case-Laws Income Tax Mon, 07 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373238