Deduction u/s 10A of Income Tax Act has to be computed before set off or Carry Forward of Business Loss and Depreciation: ITAT [Read Order]

By Aparna. M - On September 9, 2023 12:45 pm - 2 mins read

Deduction - of Income Tax Act - Carry Forward of Business Loss - Depreciation - ITAT - Income Tax - taxscan

The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that deduction under section 10A of the Income Tax Act, 1961 has to be computed before setoff carry forward business loss and depreciation. Therefore the bench allowed the appeal filed by the assessee. Assessee, BA Continuum India Private Limited subsidiary of Countrywide Financial Corporation and is…

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