https://www.taxtmi.com/caselaws?id=36431 Prior losses, depreciation and development rebate of a newly established cold storage undertaking, having already been adjusted in earlier assessments, could not be set off again when computing deduction under section 80J. The deduction had to be worked out on the undertaking's profit as reflected in the gross total income of the relevant year, without a second adjustment of amounts already allowed under the Act. Development rebate already deducted in computing total income could not be reduced again from the undertaking's profit for Chapter VI-A purposes. The assessee's claim to the section 80J deduction was therefore upheld. en-us Wed, 10 Oct 1979 00:00:00 +0530 Mon, 22 Mar 2010 12:57:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36431 Prior losses, depreciation and development rebate of a newly established cold storage undertaking, having already been adjusted in earlier assessments, could not be set off again when computing deduction under section 80J. The deduction had to be worked out on the undertaking's profit as reflected in the gross total income of the relevant year, without a second adjustment of amounts already allowed under the Act. Development rebate already deducted in computing total income could not be reduced again from the undertaking's profit for Chapter VI-A purposes. The assessee's claim to the section 80J deduction was therefore upheld. Case-Laws Income Tax Wed, 10 Oct 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36431