The Tax Publishers2020 TaxPub(DT) 0433 (Pune-Trib) : (2020) 204 TTJ 0649

INCOME TAX ACT, 1961

Section 10A/B

Deduction under section 10A and 10B had to be allowed qua eligible undertaking standing on its own without reference to other eligible or non-eligible units or undertakings. To put it simply, profits of eligible unitshad to be considered on standalone basis setting off brought forward losses.

Deduction under section 10A/B - Computation - Scope for setting off of brought forward losses -

Assessee claimed deduction under section 10A/B . AO recomputed amount deductible after setting off brought forward losses.Held: Deduction under section 10A and 10B had to be allowed qua the eligible undertaking standing on its own without reference to other eligible or non-eligible units or undertakings. To put it simply, profits of the eligible unitshad to be considered on standalone basis.

Followed:CIT v. Yokogawa India Ltd. (2017) 391 ITR 274 (SC) : 2016 TaxPub(DT) 5139 (SC) and CIT v. J.P. Morgan Services India Pvt. Ltd. (2017) 393 ITR 24 (SC) : 2017 TaxPub(DT) 901 (SC).

REFERRED :

FAVOUR : In assessee's favour.

A.Y. :

INCOME TAX ACT, 1961

Section 92C

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