https://www.taxtmi.com/caselaws?id=12265 The court held that the determination of carry forward amounts under Section 115J(2) of the Income-tax Act should not be impacted by the minimum tax provision in Section 115J(1). The Tribunal's decision to allow set-off of profits taxed under Section 115J(1) was overturned, emphasizing that paying tax on deemed income does not entitle the assessee to carry forward losses previously set off. The judgment favored the Revenue over the assessee, clarifying the application of Sections 115J(1) and 115J(2) in computing total income. en-us Mon, 19 Nov 2001 00:00:00 +0530 Sat, 20 Feb 2010 16:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12265 The court held that the determination of carry forward amounts under Section 115J(2) of the Income-tax Act should not be impacted by the minimum tax provision in Section 115J(1). The Tribunal's decision to allow set-off of profits taxed under Section 115J(1) was overturned, emphasizing that paying tax on deemed income does not entitle the assessee to carry forward losses previously set off. The judgment favored the Revenue over the assessee, clarifying the application of Sections 115J(1) and 115J(2) in computing total income. Case-Laws Income Tax Mon, 19 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12265