https://www.taxtmi.com/caselaws?id=15278 Section 80J relief was computed on the net amount remaining after set-off of unabsorbed development rebate, business loss and similar carried-forward adjustments, not on the gross profits of the new industrial undertaking. The governing principle was that tax relief of this kind must follow the amount actually chargeable under the statutory computation scheme, after prior-year adjustments are applied. On that basis, the deduction was restricted to the net figure, and the issue was answered in favour of the Revenue. en-us Mon, 02 Nov 1998 00:00:00 +0530 Tue, 04 Aug 2009 13:37:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15278 Section 80J relief was computed on the net amount remaining after set-off of unabsorbed development rebate, business loss and similar carried-forward adjustments, not on the gross profits of the new industrial undertaking. The governing principle was that tax relief of this kind must follow the amount actually chargeable under the statutory computation scheme, after prior-year adjustments are applied. On that basis, the deduction was restricted to the net figure, and the issue was answered in favour of the Revenue. Case-Laws Income Tax Mon, 02 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15278