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TMI Blog2020 (11) TMI 16X X X X Extracts X X X X X X X X Extracts X X X X ..... iness unit of assessee. We find no justification in such order passed by the PCIT who has not taken into consideration this particular aspect of the matter though the same was brought to his notice by the assessee . We find no justification in the order impugned before us which has re-opened the issue u/s 263 of the Act whereas, we find that the order passed by the Learned A0 is just and proper ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A.Y. 2009-10. The Revenue has proposed a solitary question of law for the consideration of this Court. The same reads thus; Whether the Appellate Tribunal has erred in law and on facts by setting aside and quashing the order passed by the Principal Commissioner of Income Tax under section 263 of the Act? 2. It appears from the materials on record that the assessee filed its return of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of ₹ 2,91,07,555/- pertaining to A.Y.2008-09 against the income of the current year. 4. The Principal Commissioner took up the assessment order in suo motu revision in exercise of his powers under Section 263 of the Act on the ground that the assessment order was erroneous and prejudicial to the interest of Revenue. The Principal Commissioner took the view that the Assessing Officer had f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der; In view of the ratio laid down by the Hon ble Jurisdictional High Court that the deduction u/s 10A has to be allowed before set off of unabsorbed loss and depreciation of non-eligible business unit of assessee. We find no justification in such order passed by the Learned PCIT who has not taken into consideration this particular aspect of the matter though the same was brought to his noti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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