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Income Tax - Highlights / Catch Notes

Home Highlights May 2017 Year 2017 This

Section 10B being an exemption provision, income of the 10B unit ...


Section 10B mandates excluding 10B unit income from gross total income, preventing set-off of other business losses.

May 22, 2017

Case Laws     Income Tax     AT

Section 10B being an exemption provision, income of the 10B unit has to be excluded at the source itself before arriving at the gross total income and since this income is not at all to be in the income of the assessee, there is no occasion to set off of brought forward loss of the assessee in respect of its other business against the profits of the exempted units. - AT

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