Held that the income on account of write back of unclaimed expenses accrued to the assessee only due to the export business and there was direct nexus between the export business of the assessee and the accrual of income in respect of which the expenses were shown in the preceding year and such unclaimed expenses were written back for this year. Therefore, the authorities below were not correct in reducing the deduction under section\u00a010AA\u00a0of the Act by the amount written back by the assessee on account of unclaimed balances. The Tribunal also held that \u00a0the provisions of section\u00a010A\u00a0were pari materia with the provisions of section\u00a010AA\u00a0and therefore, the claim of the assessee for not reducing the brought forward losses from the profit of business of current year before allowing deduction under section\u00a010AA\u00a0had to be allowed. Followed CIT v. Yokogawa India Ltd\u00a0 (2017) 391 ITR 274 (SC) \u00a0(AY.\u00a0 2010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 10AA : Special Economic Zones-Amount written back on account of unclaimed balances-Brought forward losses not to be reduced from profits of current year. [S. 10A] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-25921","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-6K5","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=25921"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25921\/revisions"}],"predecessor-version":[{"id":25922,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25921\/revisions\/25922"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=25921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=25921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=25921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}