https://www.taxtmi.com/caselaws?id=55413 Chapter VI-A deductions are available only after gross total income is computed under the Act, so unabsorbed depreciation and unabsorbed development rebate must be set off before relief under section 80P is allowed; the contrary claim was rejected. The article also notes that the section 80J issue, involving computation of capital employed without deducting liabilities, was not finally decided because the retrospective amendment was under challenge before the Supreme Court, so the matter was remanded for fresh consideration in light of that outcome. en-us Wed, 22 Jun 1983 00:00:00 +0530 Sun, 22 Dec 2024 07:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55413 Chapter VI-A deductions are available only after gross total income is computed under the Act, so unabsorbed depreciation and unabsorbed development rebate must be set off before relief under section 80P is allowed; the contrary claim was rejected. The article also notes that the section 80J issue, involving computation of capital employed without deducting liabilities, was not finally decided because the retrospective amendment was under challenge before the Supreme Court, so the matter was remanded for fresh consideration in light of that outcome. Case-Laws Income Tax Wed, 22 Jun 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55413