https://www.taxtmi.com/caselaws?id=2359 The Rajasthan High Court held that the deduction under Section 36(1)(viii) of the Income-tax Act should be computed on the total income before making any deductions under Chapter VI-A and Section 36(1)(viii) itself. This decision aligns with the Supreme Court's ruling in CIT v. Kerala State Industrial Development Corporation, settling the controversy over the computation of deductions for financial corporations providing long-term finance. The court favored the assessee, following established judicial precedents and statutory provisions. en-us Fri, 05 Oct 2007 00:00:00 +0530 Thu, 31 Jul 2008 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2359 The Rajasthan High Court held that the deduction under Section 36(1)(viii) of the Income-tax Act should be computed on the total income before making any deductions under Chapter VI-A and Section 36(1)(viii) itself. This decision aligns with the Supreme Court's ruling in CIT v. Kerala State Industrial Development Corporation, settling the controversy over the computation of deductions for financial corporations providing long-term finance. The court favored the assessee, following established judicial precedents and statutory provisions. Case-Laws Income Tax Fri, 05 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2359