https://www.taxtmi.com/caselaws?id=38502 The court ruled in favor of the assessee, emphasizing that the deduction under section 80E of the Income-tax Act should be based on profits from the priority industry specified in the Fifth Schedule, not the total income of the company. The court referred to relevant precedents to support this interpretation, concluding that the deduction should be calculated on profits and gains from the specified industry, as per established decisions. en-us Mon, 18 Apr 1977 00:00:00 +0530 Tue, 06 Apr 2010 17:19:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38502 The court ruled in favor of the assessee, emphasizing that the deduction under section 80E of the Income-tax Act should be based on profits from the priority industry specified in the Fifth Schedule, not the total income of the company. The court referred to relevant precedents to support this interpretation, concluding that the deduction should be calculated on profits and gains from the specified industry, as per established decisions. Case-Laws Income Tax Mon, 18 Apr 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38502