Section 10B: Losses of Eligible Units cannot Be Set off against Income of other Units

ACIT  Vs K.E.I. Industries Limited (ITAT  Delhi)

Section 10B: Losses of Eligible Units cannot Be Set off against Income of other Units

The assessee is aggrieved before the Ld. CIT(A) for denial of carry forward loss in its 100% Export Oriented Unit [EOU] at Chopanki, Bhiwandi (Rajasthan). The A.O. relying upon the Order for the preceding assessment year i.e., 2008-2009 did not allow carry forward of business losses. The assessee in the written submissions has submitted that the assessee is a 100% EO

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