https://www.taxtmi.com/caselaws?id=280644 The ITAT directed the A.O. to allow the deduction under section 80IC based on the profits of each eligible undertaking separately, without netting the losses from other eligible undertakings. This decision was consistent with the ITAT's previous ruling in the assessee's case for earlier years and the specific wording of section 80IC, which mandates separate consideration of each eligible undertaking's profits. Both appeals filed by the assessee were allowed, affirming the separate calculation of deductions under section 80IC for each eligible entity. en-us Wed, 13 Mar 2019 00:00:00 +0530 Wed, 15 May 2019 07:26:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280644 The ITAT directed the A.O. to allow the deduction under section 80IC based on the profits of each eligible undertaking separately, without netting the losses from other eligible undertakings. This decision was consistent with the ITAT's previous ruling in the assessee's case for earlier years and the specific wording of section 80IC, which mandates separate consideration of each eligible undertaking's profits. Both appeals filed by the assessee were allowed, affirming the separate calculation of deductions under section 80IC for each eligible entity. Case-Laws Income Tax Wed, 13 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280644