can loss from SEZ units allowed to be set off against profit of the non SEZ undertaking of same assessee and if yes the tax treatment of it .
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set off & carry forward of SEZ Losses
Replies (3)
No.
No
Any loss generated from a business whose income is exempt is considered as a dead loss. It means it will not be allowed against any other head of income.
Dear Dipal,
As Shailendra rightly mentioned that Losses generated from a business whose income is EXEMPT is considered as a DEAD LOSS.
It is because of this very reason the words used in Sec 10 A,10AA, 10 B, etc is DEDUCTION & NOT EXEMPTION
Now, this means that the losses of these undertakings can be setoff / carried forward & se off..
As far as setting off with THE PROFITS OF NON SEZ units is concerened, IT IS 100% ALLOWED..Sec 70 and Sec 72 does not makes distinction between the losses incurred in the NATURE OF BUSINESS.
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