https://www.taxtmi.com/caselaws?id=5413 The Supreme Court interpreted section 80T of the Income-tax Act, 1961, in a case involving a Hindu undivided family claiming deductions for capital gains. The court held that deductions under section 80T should be applied directly to capital gains without offsetting business losses. It emphasized the distinction between computing capital gains and business profits/losses. Previous court decisions on other tax provisions were deemed irrelevant to interpreting section 80T. The appeal was dismissed with no order as to costs, affirming the direct application of deductions to capital gains under section 80T. en-us Tue, 13 Apr 1993 00:00:00 +0530 Mon, 24 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5413 The Supreme Court interpreted section 80T of the Income-tax Act, 1961, in a case involving a Hindu undivided family claiming deductions for capital gains. The court held that deductions under section 80T should be applied directly to capital gains without offsetting business losses. It emphasized the distinction between computing capital gains and business profits/losses. Previous court decisions on other tax provisions were deemed irrelevant to interpreting section 80T. The appeal was dismissed with no order as to costs, affirming the direct application of deductions to capital gains under section 80T. Case-Laws Income Tax Tue, 13 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5413