https://www.taxtmi.com/caselaws?id=23898 The High Court held that the deduction under section 80-I of the Income-tax Act should be allowed after setting off carried forward losses, in line with legislative intent. The rectification based on an unapproved decision was deemed unsustainable. The Court ruled in favor of the Revenue, denying the deduction under section 80-I before setting off losses. The Revenue was awarded costs, and the case was settled accordingly. en-us Fri, 10 Feb 1989 00:00:00 +0530 Fri, 15 Jan 2010 11:28:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23898 The High Court held that the deduction under section 80-I of the Income-tax Act should be allowed after setting off carried forward losses, in line with legislative intent. The rectification based on an unapproved decision was deemed unsustainable. The Court ruled in favor of the Revenue, denying the deduction under section 80-I before setting off losses. The Revenue was awarded costs, and the case was settled accordingly. Case-Laws Income Tax Fri, 10 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23898