https://www.taxtmi.com/caselaws?id=35757 The High Court ruled in favor of the revenue in a case concerning the interpretation of sections 2(45), 80B(5), and 80A(2) of the Income-tax Act, 1961 related to deduction under section 80M and correction of relief under section 80M under section 154. The court held that the deduction under section 80M should be calculated with reference to the total income and gross total income before setting off losses under sections 71 or 72 of the Act. It found a clear mistake apparent from the record in the Tribunal's view and ruled in favor of the revenue on both issues. en-us Tue, 24 Mar 1981 00:00:00 +0530 Tue, 16 Mar 2010 14:18:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35757 The High Court ruled in favor of the revenue in a case concerning the interpretation of sections 2(45), 80B(5), and 80A(2) of the Income-tax Act, 1961 related to deduction under section 80M and correction of relief under section 80M under section 154. The court held that the deduction under section 80M should be calculated with reference to the total income and gross total income before setting off losses under sections 71 or 72 of the Act. It found a clear mistake apparent from the record in the Tribunal's view and ruled in favor of the revenue on both issues. Case-Laws Income Tax Tue, 24 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35757