Assessee Entitled to S.10B Income Tax Deduction even before Set-off of Unabsorbed Depreciation and b/f

Assessee Entitled to S.10B Income Tax Deduction Even Before Set-off of Unabsorbed Depreciation and B/F Losses: Madras High Court The Madras High Court ruled that an assessee is entitled to claim a Section 10B deduction (for export-oriented units) under the Income Tax Act even before setting off unabsorbed depreciation and carried forward losses. The court held that the benefit of this deduction could not be diminished by prior adjustments, providing significant relief to businesses that claim deductions under Section 10B. This decision ensures that businesses operating export units receive the full tax benefits of their operations.