https://www.taxtmi.com/caselaws?id=292909 The Tribunal dismissed the Assessee's appeals against the disallowance of deductions under section 80IB(10) for Assessment Years 2010-11, 2011-12, and 2012-13. The Assessee's claim to set-off unabsorbed profits from earlier years against profits from non-eligible units was rejected. The Tribunal held that deductions under section 80IB are limited to profits from the eligible undertaking and cannot exceed the gains derived from that specific unit. The decision emphasized accurate interpretation of the Income Tax Act provisions for deduction eligibility and computation, affirming the authorities' disallowance of the Assessee's deduction claims. en-us Fri, 10 Aug 2018 00:00:00 +0530 Tue, 12 Jan 2021 21:16:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292909 The Tribunal dismissed the Assessee's appeals against the disallowance of deductions under section 80IB(10) for Assessment Years 2010-11, 2011-12, and 2012-13. The Assessee's claim to set-off unabsorbed profits from earlier years against profits from non-eligible units was rejected. The Tribunal held that deductions under section 80IB are limited to profits from the eligible undertaking and cannot exceed the gains derived from that specific unit. The decision emphasized accurate interpretation of the Income Tax Act provisions for deduction eligibility and computation, affirming the authorities' disallowance of the Assessee's deduction claims. Case-Laws Income Tax Fri, 10 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292909