https://www.taxtmi.com/caselaws?id=187537 The Tribunal ruled in favor of the Department, determining that losses under section 80HHC(3)(a), (b), or (c) must be considered and offset against incentive receipts. If the net figure after adjustment is negative, no deduction under section 80HHC is permitted. This decision conforms to the SC's ruling in IPCA Laboratory Ltd. and the Bombay HC's decision in Rohan Dyes & Intermediates Ltd., emphasizing the necessity of adhering to the statutory language of the section. en-us Thu, 23 Jun 2005 00:00:00 +0530 Thu, 02 May 2024 14:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187537 The Tribunal ruled in favor of the Department, determining that losses under section 80HHC(3)(a), (b), or (c) must be considered and offset against incentive receipts. If the net figure after adjustment is negative, no deduction under section 80HHC is permitted. This decision conforms to the SC's ruling in IPCA Laboratory Ltd. and the Bombay HC's decision in Rohan Dyes & Intermediates Ltd., emphasizing the necessity of adhering to the statutory language of the section. Case-Laws Income Tax Thu, 23 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187537