Court held that the Tribunal was correct in holding that the assessee was entitled to deduction under section 80IA without setting off of the loss of loss-making units against the profits of the profit-making units. Followed CIT v. Karnataka Power Corporation Ltd (ITA No. 778 of 2009 dt. 1-19 2015. (AY. 2007-08)
CIT v. Karnataka Power Corporation Ltd. (No. 1) (2021) 436 ITR 285 (Karn.)(HC)
S. 80IA : Industrial undertakings-Loss-Setting off of Loss of loss-making units against profits of profit-making units-Entitle to benefit.