https://www.taxtmi.com/caselaws?id=59561 The majority opinion in the case held that past losses, unabsorbed depreciation, and investment allowance totaling Rs. 4,35,52,000 should be deducted from the current year's profits of the assessee's eligible industrial undertaking for calculating the deduction under section 80-I(1). The contention regarding the consideration of section 34A provisions was dismissed as the Assessing Officer had already accounted for them in computing the gross total income. The appeal of the assessee was ultimately dismissed based on these findings. en-us Mon, 15 Sep 2008 00:00:00 +0530 Tue, 11 Jun 2013 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59561 The majority opinion in the case held that past losses, unabsorbed depreciation, and investment allowance totaling Rs. 4,35,52,000 should be deducted from the current year's profits of the assessee's eligible industrial undertaking for calculating the deduction under section 80-I(1). The contention regarding the consideration of section 34A provisions was dismissed as the Assessing Officer had already accounted for them in computing the gross total income. The appeal of the assessee was ultimately dismissed based on these findings. Case-Laws Income Tax Mon, 15 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59561