CIT v. Karnatka Power Corporation ( 2021 ) 127 taxmann.com 282 ( Karn) (HC) Editorial : SLP granted to the revenue , CIT v. Karnatka Power Corporation ( 2021 ) 280 Taxman 1 / 127 taxmann.com 283 ( SC)

S. 80IA :Industrial undertakings – Entitle to deduction without setting off of loss or loss making units, against income of its profit making units . [ S.260A ]

Dismissing the appeal of the revenue the Court held that the Tribunal is justified in holding that  the assessee is entitle to deduction under section 80IA  of the Act , without setting off the loss making  units against the profits of the profit making units . Followed ITA No. 778 of 2009 dt 19 -1 2015 .

 

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