https://www.taxtmi.com/caselaws?id=775315 The HC upheld that a taxpayer is entitled to claim deduction under section 80IA without fully setting off unabsorbed depreciation from prior years, aligning with precedent from the SC and HC. It ruled that exclusion of deduction under section 80IA from business profits for computing deduction under section 80HHC is not justified, following earlier SC and HC decisions favoring the assessee. Regarding deduction for captive power generation plants using low-pressure steam in manufacturing, the HC affirmed such plants qualify as independent undertakings eligible for deduction under section 80IA(4)(iv), consistent with SC and HC rulings. en-us Fri, 11 Jul 2025 00:00:00 +0530 Wed, 23 Jul 2025 08:29:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775315 The HC upheld that a taxpayer is entitled to claim deduction under section 80IA without fully setting off unabsorbed depreciation from prior years, aligning with precedent from the SC and HC. It ruled that exclusion of deduction under section 80IA from business profits for computing deduction under section 80HHC is not justified, following earlier SC and HC decisions favoring the assessee. Regarding deduction for captive power generation plants using low-pressure steam in manufacturing, the HC affirmed such plants qualify as independent undertakings eligible for deduction under section 80IA(4)(iv), consistent with SC and HC rulings. Case-Laws Income Tax Fri, 11 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775315