https://www.taxtmi.com/caselaws?id=68976 Deduction under section 80T was confined to taxable capital gains forming part of gross total income. Where capital gains were first adjusted against business loss under section 71(2), no taxable capital gains remained, so the deduction could not be claimed. The provision was treated as an abatement of taxable capital gains rather than a step in computing capital gains. On that basis, the assessee could not use section 80T to create or enlarge a carried-forward loss. en-us Thu, 05 Jan 1984 00:00:00 +0530 Mon, 04 Apr 2011 13:23:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68976 Deduction under section 80T was confined to taxable capital gains forming part of gross total income. Where capital gains were first adjusted against business loss under section 71(2), no taxable capital gains remained, so the deduction could not be claimed. The provision was treated as an abatement of taxable capital gains rather than a step in computing capital gains. On that basis, the assessee could not use section 80T to create or enlarge a carried-forward loss. Case-Laws Income Tax Thu, 05 Jan 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68976