https://www.taxtmi.com/caselaws?id=19131 The Court held in favor of the assessee, ruling that they are entitled to deduction under section 80HH without setting off past losses. Additionally, the relief under section 80HH should be determined based on the profits of the new unit only, without considering past losses already set off in earlier years. The Court emphasized that the relief should be calculated on the basis of 20% of the profit from the industrial undertaking in the backward area. The decision was in favor of the assessee, with no order as to costs. en-us Thu, 12 May 1994 00:00:00 +0530 Wed, 04 Nov 2009 12:11:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19131 The Court held in favor of the assessee, ruling that they are entitled to deduction under section 80HH without setting off past losses. Additionally, the relief under section 80HH should be determined based on the profits of the new unit only, without considering past losses already set off in earlier years. The Court emphasized that the relief should be calculated on the basis of 20% of the profit from the industrial undertaking in the backward area. The decision was in favor of the assessee, with no order as to costs. Case-Laws Income Tax Thu, 12 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19131