https://www.taxtmi.com/caselaws?id=57631 The Appellate Tribunal ruled that deductions under section 80VV of the Income-tax Act are not allowable when there is no positive income. Citing the Cloth Traders case, the Tribunal emphasized that deductions should not exceed the gross total income, indicating they are only permitted with positive income. As the assessment resulted in a loss, the deduction claimed by the assessee was disallowed, leading to the reversal of the Commissioner (Appeals)'s decision. The revenue's appeal was allowed, affirming that deductions under Chapter VI-A cannot result in a negative total income. en-us Thu, 15 Mar 1984 00:00:00 +0530 Sat, 11 Dec 2010 12:13:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57631 The Appellate Tribunal ruled that deductions under section 80VV of the Income-tax Act are not allowable when there is no positive income. Citing the Cloth Traders case, the Tribunal emphasized that deductions should not exceed the gross total income, indicating they are only permitted with positive income. As the assessment resulted in a loss, the deduction claimed by the assessee was disallowed, leading to the reversal of the Commissioner (Appeals)'s decision. The revenue's appeal was allowed, affirming that deductions under Chapter VI-A cannot result in a negative total income. Case-Laws Income Tax Thu, 15 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57631