https://www.taxtmi.com/caselaws?id=26775 Section 36(1)(viii) deduction for special reserve is to be computed on total income before allowing that very deduction, because the expression "total income" retains its pre-deduction basis even after the amendment referring to Chapter VI-A deductions. The Patna HC followed its earlier view and held that the legislative intent was to preserve the benefit available to financial corporations rather than reduce it by first subtracting the special reserve deduction itself. The issue was answered in favour of the assessee and against the Revenue. en-us Tue, 28 Jan 1986 00:00:00 +0530 Mon, 08 Feb 2010 13:45:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26775 Section 36(1)(viii) deduction for special reserve is to be computed on total income before allowing that very deduction, because the expression "total income" retains its pre-deduction basis even after the amendment referring to Chapter VI-A deductions. The Patna HC followed its earlier view and held that the legislative intent was to preserve the benefit available to financial corporations rather than reduce it by first subtracting the special reserve deduction itself. The issue was answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Tue, 28 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26775