Section 80IA claim permitted on gross basis without offsetting losses from other Industrial Units: ITAT allows Deduction [Read Order]

Profit Calculation for Section 80IA Deduction Must Exclude Set-off of Losses from Other Undertakings

By Aiswarya Krishnadas - On March 12, 2024 11:19 am - 2 mins read

ITAT - ITAT Delhi - Income Tax - Deduction on gross basis - Income tax deduction - losses - taxscan

The bench of the Income Tax Appellate Tribunal ( ITAT ) in Delhi, has observed that the deduction claim under Section 80IA under Income Tax Act, 1961 shall be permitted on gross basis without offsetting the losses from the other industrial undertakings. The assesssee alleged that the Commissioner of Income Tax (Appeals) [CIT(A)] made an…

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