https://www.taxtmi.com/caselaws?id=66881 The tribunal upheld the decision of the CIT(A) and dismissed the appeals. It concluded that deductions under section 80J and carried forward deficiencies can only be allowed after adjusting unabsorbed losses, depreciation, or development rebate of earlier years against profits derived from the relevant industrial undertaking. The tribunal referenced relevant case law and legal provisions to support its decision, emphasizing that deductions under section 80J should not be given priority over other losses. en-us Fri, 26 Jul 1996 00:00:00 +0530 Mon, 07 Mar 2011 18:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66881 The tribunal upheld the decision of the CIT(A) and dismissed the appeals. It concluded that deductions under section 80J and carried forward deficiencies can only be allowed after adjusting unabsorbed losses, depreciation, or development rebate of earlier years against profits derived from the relevant industrial undertaking. The tribunal referenced relevant case law and legal provisions to support its decision, emphasizing that deductions under section 80J should not be given priority over other losses. Case-Laws Income Tax Fri, 26 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66881