https://www.taxtmi.com/caselaws?id=14658 The Madras High Court held that deduction under section 80HH of the Income-tax Act must be computed only after setting off losses from the assessee's other units, and the profit of one eligible unit cannot be isolated for a standalone deduction. Applying the earlier decision on the same point, the Court upheld the Revenue's position and found that the Tribunal was not justified in cancelling the Commissioner's revisionary computation under section 263. The operative principle is that overall business results, not the profit of a single unit, govern the deduction calculation. en-us Tue, 24 Nov 1998 00:00:00 +0530 Fri, 17 Jul 2009 18:08:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14658 The Madras High Court held that deduction under section 80HH of the Income-tax Act must be computed only after setting off losses from the assessee's other units, and the profit of one eligible unit cannot be isolated for a standalone deduction. Applying the earlier decision on the same point, the Court upheld the Revenue's position and found that the Tribunal was not justified in cancelling the Commissioner's revisionary computation under section 263. The operative principle is that overall business results, not the profit of a single unit, govern the deduction calculation. Case-Laws Income Tax Tue, 24 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14658