https://www.taxtmi.com/caselaws?id=60918 Section 80AB requires Chapter VI-A deductions to be computed only after the relevant business income is first worked out under the Income-tax Act. On that basis, investment allowance under section 32A had to be reduced before calculating the deduction under section 80HH, because section 80HH applies only to the profits and gains as finally computed under the Act. Authorities relied on by the assessee were distinguished, and the construction supported the Revenue's view. The result was that the assessee's contention was rejected and the deduction under section 80HH was confined to the income remaining after prior statutory computation adjustments. en-us Mon, 22 Aug 1994 00:00:00 +0530 Sat, 08 Jan 2011 16:10:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60918 Section 80AB requires Chapter VI-A deductions to be computed only after the relevant business income is first worked out under the Income-tax Act. On that basis, investment allowance under section 32A had to be reduced before calculating the deduction under section 80HH, because section 80HH applies only to the profits and gains as finally computed under the Act. Authorities relied on by the assessee were distinguished, and the construction supported the Revenue's view. The result was that the assessee's contention was rejected and the deduction under section 80HH was confined to the income remaining after prior statutory computation adjustments. Case-Laws Income Tax Mon, 22 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60918