2016 (9) TMI 63

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....aring parties ORDER The subject matter of challenge in the appeal is a judgment and order dated 28th March, 2008 passed by Income Tax Appellate Tribunal "D" Bench, Kolkata in ITA No.1658/Kol/2007 pertaining to the assessment year 2004-05 by which the learned Tribunal allowed an appeal preferred by the assessee. The aggrieved revenue has come up in appeal. The following questions of law we....

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.... other business ?" Section 10B underwent an amendment with effect from 1st April, 2001. Prior to 1st April, 2001, profits and gains derived by a hundred per cent export-oriented undertaking were exempt from payment of tax for a specified number of years. By the amendment the profits and gains derived by a hundred per cent export-oriented undertaking became deductible from the total income. Natural....

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....ciation could be set off in accordance with law. The learned Tribunal passed the following order: " direct the A.O. to allow the set off of business loss and unabsorbed depreciation from the profits of other units." The learned Tribunal passed a right order. But it would have been better, if the learned Tribunal had clarified that the set off was to be allowed in the order as laid down....