Wednesday, February 29, 2012

Deduction of 10A before Consideraring Unabsorbad Loss and Depreciation

 Profit for purpose of deduction under section 10A should be allowed without setting off of unabsorbed loss and depreciation

Section 10A, read with section 72, of the Income-tax Act, 1961 - Free trade zone - Assessment years 2001-02 and 2002-03 - Whether profit for purpose of deduction under section 10A should be allowed without setting off of unabsorbed loss and depreciation - Held, yes [In favour of assessee]

http://www.taxmann.com/breakingnews.aspx?sid=9345&t=2&c=1

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