https://www.taxtmi.com/caselaws?id=380156 The ITAT held that under section 80IC of the Income Tax Act, profits and losses of eligible units should not be netted for deduction quantification. The decision in M/s Him Teknoforge Ltd. was distinguished, emphasizing that each eligible undertaking's profits must be considered separately. Therefore, the A.O. was directed to allow the deduction based on individual unit profits. As a result, all appeals by the assessee were allowed, confirming that section 80IC deduction should not involve netting profits and losses of eligible units. en-us Fri, 10 May 2019 00:00:00 +0530 Tue, 14 May 2019 14:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380156 The ITAT held that under section 80IC of the Income Tax Act, profits and losses of eligible units should not be netted for deduction quantification. The decision in M/s Him Teknoforge Ltd. was distinguished, emphasizing that each eligible undertaking's profits must be considered separately. Therefore, the A.O. was directed to allow the deduction based on individual unit profits. As a result, all appeals by the assessee were allowed, confirming that section 80IC deduction should not involve netting profits and losses of eligible units. Case-Laws Income Tax Fri, 10 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380156