https://www.taxtmi.com/caselaws?id=404364 The Tribunal ruled in favor of the appellant, allowing the appeal on all grounds. It held that the deduction under section 10B should be computed independently for each eligible undertaking without setting off profits/losses from other units or heads of income, in line with the Supreme Court's decision in CIT vs. Yokogawa India Ltd. The Tribunal also found that the CBDT circular dated 16.07.2013 could not override the Supreme Court's judgment, and the CIT(A) did not adequately consider the appellant's submissions and evidence. Additionally, the Tribunal allowed the carry forward of the balance deficit as claimed by the appellant. en-us Tue, 16 Feb 2021 00:00:00 +0530 Mon, 22 Feb 2021 09:10:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404364 The Tribunal ruled in favor of the appellant, allowing the appeal on all grounds. It held that the deduction under section 10B should be computed independently for each eligible undertaking without setting off profits/losses from other units or heads of income, in line with the Supreme Court's decision in CIT vs. Yokogawa India Ltd. The Tribunal also found that the CBDT circular dated 16.07.2013 could not override the Supreme Court's judgment, and the CIT(A) did not adequately consider the appellant's submissions and evidence. Additionally, the Tribunal allowed the carry forward of the balance deficit as claimed by the appellant. Case-Laws Income Tax Tue, 16 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404364