Setoff of s.10A losses, IPLC non-royalty, DTAA protection and business income relief; s.234D interest upheld

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....HC upheld assessee's claim that losses of eligible units under s.10A could be set off against profits of non-eligible units, following SC in Yokogawa. It held that payments to Sprint USA for IPLC services, for pre-2012 years, did not constitute "royalty" under s.9(1)(vi) or the India-USA DTAA, as the 2012 Explanations are substantive and not retrospective, and the contrary view in Verizon stands overruled to that extent. Consequently, disallowance under s.40(a)(i) was unsustainable, being discriminatory under Art. 26(3) of the DTAA. Miscellaneous income (employee loan interest, scrap sales) was held eligible for deduction under ss.10A/10B as business income. However, levy of interest under s.234D on excess refund was sustained against the assessee.....