https://www.taxtmi.com/caselaws?id=19841 For computing deduction under section 80HH of the Income-tax Act, eligible profits must be arrived at only after setting off unabsorbed losses and unabsorbed depreciation. The court followed the settled principle that the deduction base is the profit remaining after such prior adjustments, rather than the gross business profit. On that basis, the computation had to include those set-offs before determining the amount eligible for deduction, and the issue was answered in favour of the Revenue. en-us Tue, 24 Aug 1993 00:00:00 +0530 Tue, 10 Nov 2009 11:47:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19841 For computing deduction under section 80HH of the Income-tax Act, eligible profits must be arrived at only after setting off unabsorbed losses and unabsorbed depreciation. The court followed the settled principle that the deduction base is the profit remaining after such prior adjustments, rather than the gross business profit. On that basis, the computation had to include those set-offs before determining the amount eligible for deduction, and the issue was answered in favour of the Revenue. Case-Laws Income Tax Tue, 24 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19841