https://www.taxtmi.com/caselaws?id=380156 For deduction under section 80IC, each eligible undertaking had to be computed on a standalone basis as if it were the only source of income. The Tribunal held that section 80IC, read with section 80IC(7) and section 80IA(5), did not permit clubbing profits and losses of different eligible units, and distinguished the Revenue's reliance on section 80IA authorities because the statutory language differed materially. Losses of one eligible unit could not be set off against profits of another eligible unit for calculating the deduction. 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 For deduction under section 80IC, each eligible undertaking had to be computed on a standalone basis as if it were the only source of income. The Tribunal held that section 80IC, read with section 80IC(7) and section 80IA(5), did not permit clubbing profits and losses of different eligible units, and distinguished the Revenue's reliance on section 80IA authorities because the statutory language differed materially. Losses of one eligible unit could not be set off against profits of another eligible unit for calculating the deduction. Case-Laws Income Tax Fri, 10 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380156