https://www.taxtmi.com/caselaws?id=463450 Loss from a unit eligible for deduction under section 80-IC was first aggregated with other income under the Act's normal set-off rules, and only thereafter was gross total income computed for Chapter VI-A purposes. Sections 80-IC(7) and 80-IA(5) were read as not barring set-off of that loss against profits of other taxable units on the facts considered. The CBDT circular relied on was also treated as consistent with prior inter-source and inter-head adjustments before examining the deduction. The eligible unit's loss therefore did not have to be notionally isolated from the assessee's other business income for the year in question. en-us Wed, 13 Apr 2022 00:00:00 +0530 Tue, 02 Sep 2025 19:03:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463450 Loss from a unit eligible for deduction under section 80-IC was first aggregated with other income under the Act's normal set-off rules, and only thereafter was gross total income computed for Chapter VI-A purposes. Sections 80-IC(7) and 80-IA(5) were read as not barring set-off of that loss against profits of other taxable units on the facts considered. The CBDT circular relied on was also treated as consistent with prior inter-source and inter-head adjustments before examining the deduction. The eligible unit's loss therefore did not have to be notionally isolated from the assessee's other business income for the year in question. Case-Laws Income Tax Wed, 13 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463450