https://www.taxtmi.com/caselaws?id=58588 For deduction under Chapter VIA, gross total income must first be computed under section 80B(5), including mandatory set-off of carried forward losses under section 72 before any deduction under section 80MM is allowed. Applying that settled principle, the assessee could not claim the deduction before such set-off, and the error in allowing it was treated as a mistake apparent from the record. Rectification under section 154 was therefore valid, and the disallowance of deduction under section 80MM was restored. en-us Wed, 08 Apr 1987 00:00:00 +0530 Mon, 20 Dec 2010 17:28:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58588 For deduction under Chapter VIA, gross total income must first be computed under section 80B(5), including mandatory set-off of carried forward losses under section 72 before any deduction under section 80MM is allowed. Applying that settled principle, the assessee could not claim the deduction before such set-off, and the error in allowing it was treated as a mistake apparent from the record. Rectification under section 154 was therefore valid, and the disallowance of deduction under section 80MM was restored. Case-Laws Income Tax Wed, 08 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58588