Home Highlights February 2014 Year 2014 This

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1. Deduction u/s 10A computation - whether loss from non-eligible unit can be set off against the profit of eligible unit or whether only profit of eligible unit is to be...

2. Exemption u/s 10B - 100% EOU - there was a loss in the Unit eligible for deduction u/s. 10B and there was a business income in an another Unit. Therefore, while...

3. Deduction u/s 35AD and set off u/s 73A against the loss incurred by it in other unit - Loss of assessee on account of a specified business claiming deduction u/s 35AD...

4. TPA - income of section 10A unit has to be excluded at source itself before arriving at the gross total income, hence, question of setting off of loss against such...

5. The deduction under section 10A in respect of the allowable unit under section 10A has to be allowed before setting off brought forwarded losses of a non-section 10A unit - AT

6. Common partners in two firms – Set off of losses incurred by one firm from another - both the firms have separate channels, be it of constitution or maintenance of...

7. Disallowance u/s 80IA/80IB - There is no requirement u/s 80IA(5) of the Act to adjust profits derived from the eligible units against the losses that stand absorbed...

8. Set off of losses of the amorphous division against the profit of the other Units - the loss making unit claimed benefit under Section 10A whereas the Mumbai Unit was...

9. As per section 72(2), unabsorbed business loss is to be first set off and thereafter unabsorbed depreciation treated as current years depreciation u/s 32(2) is to be set...

10. MAT computation u/s 115JB - In this case, the assessee had incurred business loss / depreciation losses as per books in the AYs 1999-00 & 2000-01 & AYs 2011-12 & 2012-13...

11. Set off of derivative loss against derivative profit - speculative loss or not - the derivative transaction is not supported or backed by deliverable commodity - The...

12. Set off of losses against income from STP units - the loss from other business activities should not be set off against profits derived from eligible industrial undertaking - AT

13. Disallowance of commodity derivative loss - speculative loss or not - Assessee is engaged in one and only business of derivative trading in different commodity exchanges...

14. Mode and manner of set off of loss - loss from one head set off against other head of income - business loss should be first set off against income from house property...

15. Non setting off the losses from Export Oriented Unit (Section 10B unit) against the income earned in the Domestic Tariff Area Unit - Admittedly, in the instant case, the...