https://www.taxtmi.com/caselaws?id=17046 The Court held that the deduction under s. 80P(2)(a)(iii) should be allowed against the net income after setting off proportionate expenses for earning exempt income. It found that the various activities of the assessee were not interdependent, supporting the separate consideration of expenses for earning exempt income. Judge A. L. VAIDYA concurred, stressing the importance of evaluating all relevant facts to determine tax deduction eligibility. en-us Wed, 14 May 1997 00:00:00 +0530 Mon, 14 Sep 2009 17:57:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17046 The Court held that the deduction under s. 80P(2)(a)(iii) should be allowed against the net income after setting off proportionate expenses for earning exempt income. It found that the various activities of the assessee were not interdependent, supporting the separate consideration of expenses for earning exempt income. Judge A. L. VAIDYA concurred, stressing the importance of evaluating all relevant facts to determine tax deduction eligibility. Case-Laws Income Tax Wed, 14 May 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17046