2013 (2) TMI 711

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....jdugement of the Tribunal dated 22.05.2012 raising following questions for our consideration: "1. Whether in the circumstances and the facts of the case and in law, the Appellate Tribunal is right in holding that deduction claimed by the assessee u/s. 10A of the IT Act in respect of STP Rajkot unit should be allowed without adjustment of losses of other units and without adjustment of brought for....

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....bay High Court in case of Commissioner of Income Tax Vs. Black and Veatch Consulting Pvt. Ltd. reported in [2012] 348 ITR 72 (Bom) and decided the issue in favour of the assessee. 4. We have perused the said decision of the Bombay High Court. In the case of Income Tax Vs. Black and Veatch Consulting Pvt. Ltd. (supra) same issue came-up for consideration before the High Court which it was decided ....

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....rior to the application of the provisions of section 72 which deals with the carry forward and set off of business losses. A distinction has been made by the Legislature while incorporating the provisions of Chapter VI-A. Section 80A(1) stipulates that in computing the total income of an assessee, there shall be allowed from his gross total income, in accordance with and subject to the provisions ....