https://www.taxtmi.com/caselaws?id=403014 The ITAT allowed the appellant's Miscellaneous Applications seeking rectification of the order to enable set off of profits from Mumbai and Indore units against losses of the Chandigarh unit under Sections 35AD and 73A. It held that the Mumbai unit qualified as a "Specified Business," permitting the set off despite not meeting Section 35AD criteria. The ITAT directed the Assessing Officer to allow the set off, aligning with the Finance Bill 2011 clarification note. The orders were rectified to reflect the eligibility for set off as per the clarified provisions. en-us Mon, 04 Jan 2021 00:00:00 +0530 Sun, 17 Jan 2021 21:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403014 The ITAT allowed the appellant's Miscellaneous Applications seeking rectification of the order to enable set off of profits from Mumbai and Indore units against losses of the Chandigarh unit under Sections 35AD and 73A. It held that the Mumbai unit qualified as a "Specified Business," permitting the set off despite not meeting Section 35AD criteria. The ITAT directed the Assessing Officer to allow the set off, aligning with the Finance Bill 2011 clarification note. The orders were rectified to reflect the eligibility for set off as per the clarified provisions. Case-Laws Income Tax Mon, 04 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403014