https://www.taxtmi.com/caselaws?id=59077 The Appellate Tribunal allowed the appeal in part, directing the Assessing Officer to permit deduction under s. 35B against income exempt under s. 80-O. The claim for relief under s. 91(1) was not pursued. The Tribunal upheld the application of s. 80AB in computing relief under s. 80-O, emphasizing that expenses must be deducted to determine eligible income. It instructed a review of the allocation of corporate office losses against income for s. 80-O deduction, emphasizing the necessity of expenses related to earning exempted income. en-us Mon, 31 May 1993 00:00:00 +0530 Thu, 23 Dec 2010 17:56:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59077 The Appellate Tribunal allowed the appeal in part, directing the Assessing Officer to permit deduction under s. 35B against income exempt under s. 80-O. The claim for relief under s. 91(1) was not pursued. The Tribunal upheld the application of s. 80AB in computing relief under s. 80-O, emphasizing that expenses must be deducted to determine eligible income. It instructed a review of the allocation of corporate office losses against income for s. 80-O deduction, emphasizing the necessity of expenses related to earning exempted income. Case-Laws Income Tax Mon, 31 May 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59077