[aaykarbhavan] Losses already adjusted in earlier years couldn’t be considered again by revenue to compute sec. 80-IA relief

losses already adjusted in earlier years couldn't be considered again by revenue to compute sec. 80-IA relief

May 26, 2014[2014] 45 taxmann.com 98 (Karnataka)

IT: For purpose of determining quantum of section 80-IA deduction in year in which assessee put forth claim, revenue cannot take into consideration loss and depreciation from eligible business of earlier year which was already set-off against income of assessee from other source

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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