https://www.taxtmi.com/caselaws?id=777598 ITAT-Bang held that deduction under s.10AA must be computed unit-wise without setting off losses of one SEZ unit against profits of others; the computed deduction is claimable from total income but cannot exceed it. Interest income (NCDs, debentures, loans to subsidiaries, government securities, tax-refund interest), insurance proceeds, airline incentives and BSNL rent relating to SEZ units qualify for s.10AA. Foreign tax credit on income eligible for s.10AA was allowed; a s.37(1) claim for foreign taxes not covered by DTAA was remanded to AO. Disallowance under s.14A/rule 8D and additions for brand-building were deleted. s.10AA allowed for specified SEZ units and s.32AC deduction granted. en-us Wed, 06 Aug 2025 00:00:00 +0530 Tue, 02 Sep 2025 08:01:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777598 ITAT-Bang held that deduction under s.10AA must be computed unit-wise without setting off losses of one SEZ unit against profits of others; the computed deduction is claimable from total income but cannot exceed it. Interest income (NCDs, debentures, loans to subsidiaries, government securities, tax-refund interest), insurance proceeds, airline incentives and BSNL rent relating to SEZ units qualify for s.10AA. Foreign tax credit on income eligible for s.10AA was allowed; a s.37(1) claim for foreign taxes not covered by DTAA was remanded to AO. Disallowance under s.14A/rule 8D and additions for brand-building were deleted. s.10AA allowed for specified SEZ units and s.32AC deduction granted. Case-Laws Income Tax Wed, 06 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777598