Section 10A and related deductions: Tribunal rejects separate-undertaking claim, but allows loss set-off, ESOP cost and foreign tax credit in principle.

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....Section 10A relief was denied on the claim that 31 units were separate undertakings, because the Tribunal followed its earlier year order, as affirmed by the Delhi HC, and found no new factual material to reopen that position. By contrast, it allowed or accepted in principle several other claims: losses of eligible units were held set offable after the 2001 amendment, depreciation at 60% was allowed on computer peripherals integral to the system, Rule 8D disallowance under section 14A was deleted as prospective, and ESOP discount was treated as allowable employee cost subject to verification. Foreign tax credit was not denied merely because income was section 10A-deductible, while issues on foreign branch profits, software licence fee and creditor balances were remanded for factual verification.....