2015 (7) TMI 1185

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..... Subramanian, A.R. O R D E R Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the Revenue against the order of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] dated 11.10.2013. 2. The Revenue has taken the following grounds of appeal: "(1) On the facts and in the circumstances of the case and in law, the Learned CIT(A....

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.... allowable without setting off loss of other units as each unit is to be treated as a separate and independent unit u/s 80-I (6) of the I.T. Act and the deduction has to be computed as if the industrial undertaking was the only source of income of the assessee. It is only those industrial undertakings which have a profit or gain which have to be considered for computing the deduction. The loss mak....

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....diately succeeding the initial assessment year or any subsequent assessment year, be computed as if such eligible business were the only source of income of the assessee during the previous year relevant to the initial assessment year and to every subsequent assessment year up to and including the assessment year for which the determination is to be made." It may be further noted that as per secti....