https://www.taxtmi.com/caselaws?id=59938 Deduction under section 80-IA is to be computed by treating the eligible business as the only source of income for the relevant year. On a conjoint reading of sections 80-IA(7), 80A, 80AB and 80B(5), brought forward unabsorbed depreciation, losses, deductions and expenses of non-eligible business or other sources are not to be set off before determining the deduction. Only losses and allowances relating to the eligible business itself are relevant to the computation. The result is that the section 80-IA deduction is allowed with reference to the eligible business without prior adjustment of non-eligible business losses or depreciation. en-us Tue, 19 Oct 2004 00:00:00 +0530 Mon, 24 Jun 2024 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59938 Deduction under section 80-IA is to be computed by treating the eligible business as the only source of income for the relevant year. On a conjoint reading of sections 80-IA(7), 80A, 80AB and 80B(5), brought forward unabsorbed depreciation, losses, deductions and expenses of non-eligible business or other sources are not to be set off before determining the deduction. Only losses and allowances relating to the eligible business itself are relevant to the computation. The result is that the section 80-IA deduction is allowed with reference to the eligible business without prior adjustment of non-eligible business losses or depreciation. Case-Laws Income Tax Tue, 19 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59938