https://www.taxtmi.com/caselaws?id=63767 The Tribunal partly allowed the assessee's appeals, setting aside the assessment orders made under section 263 of the IT Act for the assessment years 1986-87 and 1987-88. It directed the AO to make fresh assessments after providing the assessee with an opportunity to be heard. The Tribunal clarified the correct computation of deductions under sections 80HH and 80-I, emphasizing the need to set off brought forward losses before allowing these deductions. The matter was remanded to the AO for fresh computation of deductions for both assessment years based on the Tribunal's interpretation of "total income" and "such profits and gains derived from an industrial undertaking." en-us Fri, 07 Apr 1995 00:00:00 +0530 Tue, 01 Feb 2011 17:00:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63767 The Tribunal partly allowed the assessee's appeals, setting aside the assessment orders made under section 263 of the IT Act for the assessment years 1986-87 and 1987-88. It directed the AO to make fresh assessments after providing the assessee with an opportunity to be heard. The Tribunal clarified the correct computation of deductions under sections 80HH and 80-I, emphasizing the need to set off brought forward losses before allowing these deductions. The matter was remanded to the AO for fresh computation of deductions for both assessment years based on the Tribunal's interpretation of "total income" and "such profits and gains derived from an industrial undertaking." Case-Laws Income Tax Fri, 07 Apr 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63767