Amount of brought business loss and unabsorbed depreciation is not required to be first set-off before computing the deduction allowable under s 80HHC for the purpose of computing book profits, matter remitted to make calculation under s 80HHC

Bisazza India (P) Ltd. Vs CIT ITAT Ahmedabad ITA No. 1381/Ahd/2010 Assessment Year: 2000- 2001 Decided on: 27 May 2011 Order A.K. Garodia, AM: This is an assessee’s appeal directed against the order of the Learned Commissioner of Income tax-I, Ahmedabad dated 31-12-2009 for the Assessment Year 2000-01 passed by him under section 263. 2. The grounds raised by the assessee are as under:- “1. Learned Commissioner of Income tax has erred in law and on facts in passing order u/s. 263 holding the assessment order passed u/s. 143(3) r. w. s. 147 of the Act as erroneous an...