https://www.taxtmi.com/caselaws?id=445345 The Delhi HC dismissed the revenue's appeal regarding disallowances under sections 80IA/80IB and 80M. The court held that under section 80IA(5), profits of eligible units need not be adjusted against unabsorbed losses of other eligible units or brought forward losses from earlier years, as eligible business profits should be computed as if it were the sole income source. Regarding section 80M, the court upheld the CIT(A) and Tribunal's factual finding that the assessee had distributed dividends worth Rs. 3,97,34,475 to shareholders, making the deduction allowable. Both disallowances were correctly deleted by lower authorities. en-us Thu, 05 Oct 2023 00:00:00 +0530 Sat, 04 Nov 2023 12:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445345 The Delhi HC dismissed the revenue's appeal regarding disallowances under sections 80IA/80IB and 80M. The court held that under section 80IA(5), profits of eligible units need not be adjusted against unabsorbed losses of other eligible units or brought forward losses from earlier years, as eligible business profits should be computed as if it were the sole income source. Regarding section 80M, the court upheld the CIT(A) and Tribunal's factual finding that the assessee had distributed dividends worth Rs. 3,97,34,475 to shareholders, making the deduction allowable. Both disallowances were correctly deleted by lower authorities. Case-Laws Income Tax Thu, 05 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445345