https://www.taxtmi.com/caselaws?id=55833 Capital for section 80J relief had been computed after reducing liabilities and losses, but the retrospective amendment was under challenge before the Supreme Court, so the issue was remitted for fresh consideration after that decision, with liberty to rely on relevant precedents if the amended provision was held inapplicable. Interest and dividend received from other co-operative societies were treated as part of the assessee's gross total income for section 80P(2)(d), and a net loss in the interest account did not negate relief where the statute turned on the specific receipt. Relief under section 80P(2)(d) was thus allowed on the stated income. en-us Sat, 23 May 1981 00:00:00 +0530 Tue, 30 Nov 2010 13:17:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55833 Capital for section 80J relief had been computed after reducing liabilities and losses, but the retrospective amendment was under challenge before the Supreme Court, so the issue was remitted for fresh consideration after that decision, with liberty to rely on relevant precedents if the amended provision was held inapplicable. Interest and dividend received from other co-operative societies were treated as part of the assessee's gross total income for section 80P(2)(d), and a net loss in the interest account did not negate relief where the statute turned on the specific receipt. Relief under section 80P(2)(d) was thus allowed on the stated income. Case-Laws Income Tax Sat, 23 May 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55833