https://www.taxtmi.com/caselaws?id=13475 Section 80AB controls deductions under Chapter VI-A and requires the deduction base to be computed on income determined under the Act after giving effect to both profits and losses. A deduction under section 80-I cannot be calculated by isolating the profits of the manufacturing business while ignoring a loss from the leasing business forming part of the assessee's total income. Earlier authority supporting an isolated profit approach was treated as inapplicable because it did not account for section 80AB. The operative position is that the loss from the leasing business must be considered before computing the section 80-I deduction. en-us Tue, 14 Nov 2006 00:00:00 +0530 Thu, 29 Feb 2024 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13475 Section 80AB controls deductions under Chapter VI-A and requires the deduction base to be computed on income determined under the Act after giving effect to both profits and losses. A deduction under section 80-I cannot be calculated by isolating the profits of the manufacturing business while ignoring a loss from the leasing business forming part of the assessee's total income. Earlier authority supporting an isolated profit approach was treated as inapplicable because it did not account for section 80AB. The operative position is that the loss from the leasing business must be considered before computing the section 80-I deduction. Case-Laws Income Tax Tue, 14 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13475