https://www.taxtmi.com/caselaws?id=420726 The Tribunal upheld the rectification order under Section 154, adjusting unabsorbed depreciation against gross total income and denying Chapter VIA deduction. It affirmed that unabsorbed depreciation must be adjusted against business income before allowing Section 80IA deduction. Short-term capital gain from the sale of depreciable assets was ruled ineligible for Section 80IA deduction. The Tribunal dismissed the appeal, confirming the rectification and rejecting arguments on short-term capital gain eligibility and interest levy under Sections 234A-D. en-us Mon, 04 Apr 2022 00:00:00 +0530 Fri, 08 Apr 2022 08:03:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420726 The Tribunal upheld the rectification order under Section 154, adjusting unabsorbed depreciation against gross total income and denying Chapter VIA deduction. It affirmed that unabsorbed depreciation must be adjusted against business income before allowing Section 80IA deduction. Short-term capital gain from the sale of depreciable assets was ruled ineligible for Section 80IA deduction. The Tribunal dismissed the appeal, confirming the rectification and rejecting arguments on short-term capital gain eligibility and interest levy under Sections 234A-D. Case-Laws Income Tax Mon, 04 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420726