https://www.taxtmi.com/caselaws?id=32463 The court upheld that the loss on sale of units of UTI was a capital loss, not a speculation loss, directing reassessment. Regarding depreciation on the tea drier, further evidence was required to determine the claim's validity. Deductions under sections 80HHC and 80-I were to be calculated before applying rule 8. The court affirmed that deductions should be computed before apportioning income from the tea business. Profit from export was to be calculated based on specific turnover. The court ruled on the written down value of assets and the timing of provident fund contributions, with directions for further action by the Income-tax Appellate Tribunal. en-us Wed, 05 Jul 2006 00:00:00 +0530 Sun, 06 Feb 2011 02:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32463 The court upheld that the loss on sale of units of UTI was a capital loss, not a speculation loss, directing reassessment. Regarding depreciation on the tea drier, further evidence was required to determine the claim's validity. Deductions under sections 80HHC and 80-I were to be calculated before applying rule 8. The court affirmed that deductions should be computed before apportioning income from the tea business. Profit from export was to be calculated based on specific turnover. The court ruled on the written down value of assets and the timing of provident fund contributions, with directions for further action by the Income-tax Appellate Tribunal. Case-Laws Income Tax Wed, 05 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32463