https://www.taxtmi.com/caselaws?id=418737 The court affirmed the assessee's entitlement to deduction under section 80IA without setting off losses/unabsorbed depreciation. It clarified that the initial assessment year can be chosen by the assessee for claiming the deduction, as per Circular No.1/2016. The court emphasized the assessee's discretion in selecting the initial assessment year, crucial for the continuity and eligibility of the deduction. The appeal was dismissed in favor of the respondent/assessee, reinforcing the importance of the chosen initial assessment year for claiming deduction under section 80IA. en-us Mon, 07 Feb 2022 00:00:00 +0530 Wed, 23 Feb 2022 08:29:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418737 The court affirmed the assessee's entitlement to deduction under section 80IA without setting off losses/unabsorbed depreciation. It clarified that the initial assessment year can be chosen by the assessee for claiming the deduction, as per Circular No.1/2016. The court emphasized the assessee's discretion in selecting the initial assessment year, crucial for the continuity and eligibility of the deduction. The appeal was dismissed in favor of the respondent/assessee, reinforcing the importance of the chosen initial assessment year for claiming deduction under section 80IA. Case-Laws Income Tax Mon, 07 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418737