2011 (4) TMI 1389

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....R D E R PER RAJENDRA SINGH (AM) This appeal by the assessee is directed against the order dated 11.12.2009 of CIT(A) for the assessment year 2006-07. The only dispute raised by the assessee in this appeal is regarding adjustment of brought forward losses of 10A unit against the income of 10A unit before allowing deduction under section 10A. 2. Briefly stated the facts of the case are that....

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....ince the entire profit had been set off against the brought forward losses no deduction was allowed under section 10A. In appeal CIT(A) confirmed the order of AO aggrieved by which the assessee is in appeal before the tribunal. 3. Before us the Learned AR for the assessee at the very outset submitted that the issue was covered in favour of the assessee by the decision of Special Bench of tribun....

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....o held that deduction under section 10A was to be allowed in respect of the profit of the eligible unit and not from the gross total income as envisaged under Chapter VI A. The tribunal also held that the business losses of non eligible units cannot be set off against the profits of the undertaking eligible for deduction under section 10A for the purpose of determining the deduction allowable unde....