Deduction u/s 80 IA cannot be denied if losses set off against previous year income

Issue before court: The only issue before Hon’ble court is that whether assessee is entitled to claim deduction u/s 80 IA even though it have been set off losses against the profits from other sources. Brief Facts: Assessee installed windmills and generate windpower during the years in concern. Assessee claimed deduction u/s 80 IA after setting off losses incurred and adjusted against the profits of earlier years. AO denied deduction but tribunal favoured assessee on this issue and allowed appeal. Contention of the revenue: Revenue contended that the case law relied upon the assessee in...