https://www.taxtmi.com/caselaws?id=292765 The High Court of Madras ruled in favor of the Assessee, holding that the Tribunal's decision to set off carry forward loss/depreciation of one eligible unit against the profits of another eligible unit before deduction under Section 10A of the Income Tax Act was incorrect. The Court emphasized that deductions under Section 10A or 10B should be made while computing the gross total income of the eligible undertaking, not during the computation of total income. The Court found the Revenue's method of computation contrary to established law and allowed the appeal in favor of the Assessee. en-us Thu, 04 Jun 2020 00:00:00 +0530 Thu, 07 Jan 2021 16:02:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292765 The High Court of Madras ruled in favor of the Assessee, holding that the Tribunal's decision to set off carry forward loss/depreciation of one eligible unit against the profits of another eligible unit before deduction under Section 10A of the Income Tax Act was incorrect. The Court emphasized that deductions under Section 10A or 10B should be made while computing the gross total income of the eligible undertaking, not during the computation of total income. The Court found the Revenue's method of computation contrary to established law and allowed the appeal in favor of the Assessee. Case-Laws Income Tax Thu, 04 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292765