https://www.taxtmi.com/caselaws?id=249099 Deduction under Chapter VI-A must be computed only after income is determined under the Act and gross total income is arrived at after setting off depreciation, unabsorbed depreciation and brought forward losses. The HC held that Sections 80HH and 80I do not permit deduction on pre-adjustment commercial profits, because Section 80AB and the scheme of Sections 80A(2) and 80B(5) require a positive resultant gross total income. Where the adjusted income is nil or negative, no deduction is admissible under those provisions. en-us Mon, 06 Jan 2014 00:00:00 +0530 Fri, 10 Oct 2014 16:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249099 Deduction under Chapter VI-A must be computed only after income is determined under the Act and gross total income is arrived at after setting off depreciation, unabsorbed depreciation and brought forward losses. The HC held that Sections 80HH and 80I do not permit deduction on pre-adjustment commercial profits, because Section 80AB and the scheme of Sections 80A(2) and 80B(5) require a positive resultant gross total income. Where the adjusted income is nil or negative, no deduction is admissible under those provisions. Case-Laws Income Tax Mon, 06 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249099