https://www.taxtmi.com/caselaws?id=103358 Deductions under sections 35D and 43B cannot be denied merely because business income becomes nil after set-off of depreciation. The relevant computation provisions require income to be assessed under the statutory scheme for business profits, and admissible deductions remain allowable unless the Act expressly restricts them. As no provision made positive income a precondition for these deductions, the absence of positive profit did not justify disallowance. The assessee was therefore entitled to the relief allowed by the first appellate authority. en-us Wed, 27 Mar 2002 00:00:00 +0530 Wed, 22 Feb 2012 15:00:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103358 Deductions under sections 35D and 43B cannot be denied merely because business income becomes nil after set-off of depreciation. The relevant computation provisions require income to be assessed under the statutory scheme for business profits, and admissible deductions remain allowable unless the Act expressly restricts them. As no provision made positive income a precondition for these deductions, the absence of positive profit did not justify disallowance. The assessee was therefore entitled to the relief allowed by the first appellate authority. Case-Laws Income Tax Wed, 27 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103358