Section 80-IA-Synco Industries vs. ITO (Supreme Court)
Court :
SC
Brief :
(a) If the assessee has suffered a loss in one unit, the same has to be set-off against the profits of the undertaking eligible for deduction u/s 80IA etc and if the resultant figure is a loss, no deduction under Chapter VI-A is allowable;
(b) Where the predominant majority of the High Courts have taken a certain view on the interpretation of certain provisions, the Supreme Court would lean in favour of the predominant view.
Citation :
LexDoc Id: 336018
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CA Jonu Jain
Published in Income Tax
Views : 190
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