https://www.taxtmi.com/caselaws?id=326147 Section 32AB deduction was required to be allowed before set off of brought forward losses and unabsorbed investment allowance under Section 72. Sections 28 and 29 govern computation of business income, while set off and carry forward operate separately under Chapter VI; the amended Section 32AB expressly fixed that sequence and was intended to remove hardship. The deduction could not be denied merely because, after other adjustments, no positive business income remained. The assessee was therefore entitled to the deduction, and the statutory priority of Section 32AB prevailed over contrary sequencing arguments. en-us Mon, 28 Mar 2016 00:00:00 +0530 Thu, 17 Nov 2016 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326147 Section 32AB deduction was required to be allowed before set off of brought forward losses and unabsorbed investment allowance under Section 72. Sections 28 and 29 govern computation of business income, while set off and carry forward operate separately under Chapter VI; the amended Section 32AB expressly fixed that sequence and was intended to remove hardship. The deduction could not be denied merely because, after other adjustments, no positive business income remained. The assessee was therefore entitled to the deduction, and the statutory priority of Section 32AB prevailed over contrary sequencing arguments. Case-Laws Income Tax Mon, 28 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326147