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2014 (10) TMI 742 - HC - Income TaxBenefit of deduction u/s 80HHC - Whether the benefit of deduction u/s. 80HHC can be claimed on the total income before allowing deduction of the unabsorbed losses, unabsorbed investment allowance and the unabsorbed depreciation – Held that:- Following the decision in Commissioner of Income-Tax Versus Shirke Construction Equipment Limited [2007 (5) TMI 194 - SUPREME Court] - in determining business profits for the deduction under section 80HHC the unabsorbed business losses of earlier years under section 72 should be set off – thus, the order of the Tribunal is to be set aside - Decided in favour of revenue.
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