Can anyone explain me why cant we set off the carried forward losses under section 10A after a period of 10 years exemption with the total income from the year in which section 10A is not applicable.
Thanks.
Can anyone explain me why cant we set off the carried forward losses under section 10A after a period of 10 years exemption with the total income from the year in which section 10A is not applicable.
Thanks.
The Set off is allowed but after making a deduction u/s 10A since sec 10A is not within chapter VI A of IT Act, the deduction is granted before GTI and then set off of losses possible.
[Synco Industries Pvt.Ltd (SC)]
when you have loss under 10A, it becomes normal business loss. the characteristics of special provision of section 10A is lost. therefore business loss provisions will be applicable. hence inability to set off after 10 years.
i agree with both views
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