https://www.taxtmi.com/caselaws?id=295832 The High Court of Karnataka affirmed the Tribunal's decision that deduction under Section 80IA of the Income-tax Act should be calculated undertaking-wise, without offsetting losses from one unit against profits from another unit. The Court upheld the assessee's method of computation, following legal precedents and dismissing the appeal in favor of the assessee. This ruling provides a significant interpretation of Section 80IA in the context of profit/loss computation for eligible deductions for power generation companies. en-us Mon, 19 Jan 2015 00:00:00 +0530 Mon, 21 Jun 2021 20:40:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295832 The High Court of Karnataka affirmed the Tribunal's decision that deduction under Section 80IA of the Income-tax Act should be calculated undertaking-wise, without offsetting losses from one unit against profits from another unit. The Court upheld the assessee's method of computation, following legal precedents and dismissing the appeal in favor of the assessee. This ruling provides a significant interpretation of Section 80IA in the context of profit/loss computation for eligible deductions for power generation companies. Case-Laws Income Tax Mon, 19 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295832