https://www.taxtmi.com/caselaws?id=14014 Deduction under ss. 80HH and 80-I was held to be undertaking-specific and computable only with reference to the profits and gains of the eligible industrial undertaking, not by first aggregating profits and losses of all divisions. Relying on the SC ratio in Canara Workshops, the HC reasoned that these provisions confer an incentive for specified qualifying undertakings and cannot be interpreted to either erode the eligible unit's deduction by setting off losses of a separate independent unit, or conversely to allow deduction where the eligible unit has no profits merely because the assessee has other income. The Revenue's aggregation contention was rejected and the appeal was dismissed, as no substantial question of law arose. en-us Thu, 02 Aug 2001 00:00:00 +0530 Wed, 24 Dec 2025 15:43:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14014 Deduction under ss. 80HH and 80-I was held to be undertaking-specific and computable only with reference to the profits and gains of the eligible industrial undertaking, not by first aggregating profits and losses of all divisions. Relying on the SC ratio in Canara Workshops, the HC reasoned that these provisions confer an incentive for specified qualifying undertakings and cannot be interpreted to either erode the eligible unit's deduction by setting off losses of a separate independent unit, or conversely to allow deduction where the eligible unit has no profits merely because the assessee has other income. The Revenue's aggregation contention was rejected and the appeal was dismissed, as no substantial question of law arose. Case-Laws Income Tax Thu, 02 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14014