https://www.taxtmi.com/caselaws?id=390678 Deduction under section 10A is to be computed at the stage of arriving at the gross total income of the eligible undertaking, not by first setting off business losses and brought forward losses under Chapter VI. Where the Assessing Officer adopted this legally sustainable view, the assessment order could not be treated as erroneous and prejudicial to the interests of the Revenue merely because the Principal Commissioner preferred a different computation method. On that basis, invocation of revisionary jurisdiction under section 263 was held unjustified and the revisional order was set aside. en-us Thu, 19 Dec 2019 00:00:00 +0530 Thu, 09 Jan 2020 11:18:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390678 Deduction under section 10A is to be computed at the stage of arriving at the gross total income of the eligible undertaking, not by first setting off business losses and brought forward losses under Chapter VI. Where the Assessing Officer adopted this legally sustainable view, the assessment order could not be treated as erroneous and prejudicial to the interests of the Revenue merely because the Principal Commissioner preferred a different computation method. On that basis, invocation of revisionary jurisdiction under section 263 was held unjustified and the revisional order was set aside. Case-Laws Income Tax Thu, 19 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390678