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% EOU at Chopanki, Bhiwandi (Rajasthan) which is registered as EOU [Noida Special Economic Zone] a...