Alpha Ltd's total income of A Y 2019-20 has increased by...

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Alpha Ltd's total income of A.Y. 2019-20 has increased by Rs. 34 lakh due to application of arm's length price by the assessing officer on transactions of purchase of goods from its foreign holding company in respect of a retail trade business carried on by it, and the same has been accepted by S Ltd, then

A. business loss of A.Y. 2015-16 cannot be set-off against the enhanced income

B. deductions under Chapter VI-A cannot be claimed in respect of the enhanced income

C. unabsorbed depreciation of A.Y. 2010-11 cannot be set-off against the enhanced income

D. Business loss referred to in A, deductions referred to in B and unabsorbed depreciation referred to in C cannot be set-off against the enhanced income

Answer: Option B


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