Unit-Wise Deductions u/s 80IA must be Granted without considering Losses from other Eligible Units: ITAT [Read Order]

The Tribunal Cancels Penalties Under Section 271(1)(c) for Set-off of Losses, Upholding Bona Fide Claims

By Sneha Sukumaran Mullakkal - On October 15, 2024 1:06 pm - 2 mins read

ITAT - ITAT Ahmedabad - Unit-Wise Deductions - Taxscan

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that unit-wise deductions under Section 80IA of the Income Tax Act,1961,must be granted without considering losses from other eligible units. The Revenue appellant contested two penalties under Section 271(1)(c) of the Income Tax Act related to the Assessment Years(AY) 2015-16 and 2016-17, which…

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