From: editor@itatonline.org <itatonline.org@gmail.com>
Date: Thu, Apr 26, 2012 at 10:53 AM
Subject: Message from EGroup of SolapurCAs S. 10A/ 10B Special Bench Verdict On Loss Set-Off Approved By High Court
To: editor@itatonline.org
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Date: Thu, Apr 26, 2012 at 10:53 AM
Subject: Message from EGroup of SolapurCAs S. 10A/ 10B Special Bench Verdict On Loss Set-Off Approved By High Court
To: editor@itatonline.org
Dear Subscriber,
The following important judgement is available for download at itatonline.org.
S. 10A/ 10B deduction allowable without set off of losses of non-eligible units
The following important judgement is available for download at itatonline.org.
CIT vs. Black & Veatch Consulting Pvt.Ltd (Bombay High Court)
S. 10A/ 10B deduction allowable without set off of losses of non-eligible units
The question arose whether the brought forward unabsorbed depreciation and losses of a unit which was not eligible for s. 10A deduction could be set-off against the current profit of a unit eligible for s. 10A deduction. The Tribunal, relying on Scientific Atlanta Vs. ACIT 129 TTJ 273 (Che)(SB) held that the a. 10A deduction had to be allowed before set-off of the losses of the non-eligible unit. On appeal by the department to the High Court, HELD dismissing the appeal:
Regards,
Editor,
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Latest:Millenniun Houseware vs. CIT (Gujarat High Court) Q whether the s. 127(2) transfer order is invalid for want of reasons referred to Full Bench
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