Held that the assessee having shown profits from its eligible units, deduction under S. 80-IA cannot be denied by computing the income from eligible business as Nil after setting off the loss from other units, more so as the assessee has maintained separate books of accounts of all the undertakings/units and filed individual audit reports of all the units. (AY. 2020-21)
JCIT v. Sonu Handicrafts (2024) 229 TTJ 52 (UO) (Jodhpur)(Trib)
S.80IA: Industrial undertakings-Enterprises engaged in infrastructure development-Adjustment of loss of other units-Separate books of account-Adjustment of loss of other units are not justified. [S.80IA(5),Form No. 10CCB]
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