https://www.taxtmi.com/caselaws?id=5938 Section 80E relief was to be computed industry-wise, with the deduction linked to the profits and gains of the particular priority industry whose income was under consideration. Losses from another priority industry carried on by the same assessee could not be imported to reduce those profits, because the provision operated only on the eligible industry itself unless the adjustment related to that very industry. Accordingly, the loss from the alloy steel industry could not be set off against the profits of the automobile ancillaries industry for section 80E purposes, and the answer was in favour of the assessee. en-us Tue, 15 Jul 1986 00:00:00 +0530 Wed, 29 Oct 2025 19:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5938 Section 80E relief was to be computed industry-wise, with the deduction linked to the profits and gains of the particular priority industry whose income was under consideration. Losses from another priority industry carried on by the same assessee could not be imported to reduce those profits, because the provision operated only on the eligible industry itself unless the adjustment related to that very industry. Accordingly, the loss from the alloy steel industry could not be set off against the profits of the automobile ancillaries industry for section 80E purposes, and the answer was in favour of the assessee. Case-Laws Income Tax Tue, 15 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5938