2012 (6) TMI 684

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..... against Revenue by High Court - question regarding deduction u/s 10A without setting off the carried forward business loss and depreciation - Held that:- Supreme Court has not laid down or settled the law in this regard. Though some times this Court may await the decision of the Supreme in a pending appeal before it, if the same question is involved in matter pending before the High Court, in the .....

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..... setting off the carried forward business loss and depreciation? 3. Submission of Sri. E. Sanmathi Indra, learned Counsel for the appellant-Revenue is that though the Tribunal has passed the impugned order following the view taken by this Court on the very question namely allowing deduction under Section 10A of the Income Tax Act, 1961 without setting off the carried forward business loss and depr .....

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..... er pending before the High Court, in the instant case we do not see any justification or reason to await the decision of the Supreme Court, as in the special leave petition only notice is ordered and the appeal is yet to be admitted. 5. Therefore, following the earlier decision of this court, we answer the question against the Revenue. The appeal is dismissed.
Case laws, Decisions, Judgement .....

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