2019 (5) TMI 1132

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..... has held that though Section 10-A as amended is a provision for deduction, the stage of deduction would be while computing the gross total income of the eligible undertaking under Chapter-IV of the Act and not at the stage of computation of total income under Chapter-VI . As far as the present case is concerned, no error appears to have been committed by the ITAT in the impugned order [ 2017 ( .....

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..... nabsorbed depreciation . The Commissioner of Income Tax (Appeals) [ CIT(A) ] held that the set off of the unabsorbed depreciation had to be reduced from the business income before computing the deductions under Section 10-A of the Income Tax Act, 1961 ( Act ). The Assessee went in appeal before the ITAT on this aspect. The ITAT has relied upon the decision of this Court in CIT v TEI Technologies .....

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..... ITR 274 (SC) whereby the Supreme Court had held that the stage of deduction would be while computing the gross total income of the eligible undertaking under Chapter-IV of the Act and not at the stage of computation of total income under Chapter-VI. Accordingly, the Revenue sought recall of the decision of the ITAT. 5. In the impugned order, the ITAT taken note of the decision of the .....

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