https://www.taxtmi.com/caselaws?id=391546 The Tribunal held that the deduction under Section 10A of the Income Tax Act is to be computed independently for the eligible undertaking without adjusting business loss/depreciation. The Tribunal's decision aligns with specific provisions of the Act and relevant Circulars, leading to the dismissal of the appeal. The interpretation of Section 10A emphasizes the independent computation of deductions for the eligible undertaking, and the Tribunal's decision regarding the set-off of business loss and depreciation against current years' profits was upheld by the Supreme Court. The Bombay High Court upheld the Tribunal's decision, emphasizing the independent nature of deductions for the eligible undertaking. en-us Mon, 27 Jan 2020 00:00:00 +0530 Fri, 31 Jan 2020 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391546 The Tribunal held that the deduction under Section 10A of the Income Tax Act is to be computed independently for the eligible undertaking without adjusting business loss/depreciation. The Tribunal's decision aligns with specific provisions of the Act and relevant Circulars, leading to the dismissal of the appeal. The interpretation of Section 10A emphasizes the independent computation of deductions for the eligible undertaking, and the Tribunal's decision regarding the set-off of business loss and depreciation against current years' profits was upheld by the Supreme Court. The Bombay High Court upheld the Tribunal's decision, emphasizing the independent nature of deductions for the eligible undertaking. Case-Laws Income Tax Mon, 27 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391546