https://www.taxtmi.com/caselaws?id=414324 The case involved a dispute over the computation of deduction under section 80IA of the Income Tax Act. The High Court emphasized the standalone treatment of profits and losses for each eligible unit, ruling that losses of ineligible units cannot be set off against profits of eligible units for deduction calculation. The Tribunal remitted the matter back to the AO for detailed verification on the timing of unabsorbed losses set off against current year profits. The Tribunal partially allowed the Revenue's appeal for A.Y. 2013-14 and 2014-15, stressing the need for factual examination in determining deductions under the Income Tax Act. en-us Fri, 29 Oct 2021 00:00:00 +0530 Tue, 02 Nov 2021 09:29:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414324 The case involved a dispute over the computation of deduction under section 80IA of the Income Tax Act. The High Court emphasized the standalone treatment of profits and losses for each eligible unit, ruling that losses of ineligible units cannot be set off against profits of eligible units for deduction calculation. The Tribunal remitted the matter back to the AO for detailed verification on the timing of unabsorbed losses set off against current year profits. The Tribunal partially allowed the Revenue's appeal for A.Y. 2013-14 and 2014-15, stressing the need for factual examination in determining deductions under the Income Tax Act. Case-Laws Income Tax Fri, 29 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414324