1993 (8) TMI 18 - HC - Income Tax

Income Tax Act Industrial Undertaking In Backward Area Losses And Depreciation Special Deduction Total Income

Summary

The High Court of Gujarat ruled that unabsorbed losses and depreciation must be deducted before calculating relief under section 80HH of the Income-tax Act, 1961. The court cited previous judgments and ruled in favor of the Revenue, dismissing the assessee's claim. The reference was disposed of with no costs.