https://www.taxtmi.com/caselaws?id=23852 Brought forward capital loss under section 74 must be set off against current capital gains before the deduction under section 80T is computed. The statutory scheme treats gross total income as income computed after giving effect to non-Chapter VI-A provisions, and Chapter VI-A deductions then operate only on that gross total income. On that basis, section 80T cannot be applied before the section 74 adjustment, because the capital gains available for deduction are first reduced by the carried-forward capital loss. en-us Wed, 13 Sep 1989 00:00:00 +0530 Thu, 14 Jan 2010 17:35:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23852 Brought forward capital loss under section 74 must be set off against current capital gains before the deduction under section 80T is computed. The statutory scheme treats gross total income as income computed after giving effect to non-Chapter VI-A provisions, and Chapter VI-A deductions then operate only on that gross total income. On that basis, section 80T cannot be applied before the section 74 adjustment, because the capital gains available for deduction are first reduced by the carried-forward capital loss. Case-Laws Income Tax Wed, 13 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23852