https://www.taxtmi.com/caselaws?id=58243 The Tribunal ruled in favor of the appellant in a tax case involving the interpretation of provisions under sections 80K and 80T of the Income-tax Act, 1961. The Tribunal held that deductions under these sections should be calculated based on the gross amount of income without reducing it by business losses. It found the Commissioner's order directing set off of business losses against dividend income to be erroneous and canceled it. The Tribunal also determined that the assessment order complied with Chapter VIA provisions, rejecting the Commissioner's decision to set aside the assessment for being made afresh. en-us Thu, 17 Nov 1983 00:00:00 +0530 Sat, 18 Dec 2010 11:16:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58243 The Tribunal ruled in favor of the appellant in a tax case involving the interpretation of provisions under sections 80K and 80T of the Income-tax Act, 1961. The Tribunal held that deductions under these sections should be calculated based on the gross amount of income without reducing it by business losses. It found the Commissioner's order directing set off of business losses against dividend income to be erroneous and canceled it. The Tribunal also determined that the assessment order complied with Chapter VIA provisions, rejecting the Commissioner's decision to set aside the assessment for being made afresh. Case-Laws Income Tax Thu, 17 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58243