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2004 (12) TMI 68 - HC - Income TaxDeduction under section 80HH - claim was allowable only if after deduction of depreciation, investment allowance and carry forward losses, the resultant figure comes to profit - As section 80HH also falls under Chapter VI-A of the Act in view of the specific finding of gross total income given in section 80B(5) of the Act the set off of losses is to be first done before allowing deduction under section 80HH of the Act. As in the present case after the set off of losses of earlier years the gross total income resulted in loss, no deduction under section 80HH was admissible.
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