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16. Gamzen Plast Pvt. Ltd. vs. ITO (Mum) Members: R. C. Sharma (AM) and Pawan Singh (JM) ITA No. 7449/Mum/2014 A.Y.: 2010-11 Date of Order: 28th October, 2016 Counsel for assessee / revenue: B. V. Jhaveri / Jeevanlal Lavedia

Jagdish D. Shah
Jagdish T. Punjabi
Chartered Accountants

Section 80IC – Losses of the eligible unit which have been fully set off in earlier years against profits of non-eligible unit cannot be artificially carried forward.