ACIT vs Choudhary Exports

Whether deduction under section 80IA can be disallowed by notionally carrying forward and setting off losses of earlier years against profits of the initial assessment year when such losses were already set off against other business income prior to the initial assessment year --- Held No. Whether additional depreciation under section 32(1)(iia) can be claimed on windmills installed for power generation by an assessee engaged in manufacturing woolen carpets --- Held Yes.