2021 (12) TMI 19

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..... ORDER P. C. : On 15/9/2004 the following substantial question of law was framed: "Whether on the facts and in the circumstances of the case the Tribunal was justified in law in holding that in view of the provisions of Section 80AB of the Income Tax Act, 1961, the loss of Rs. 3,24,080/- sustained by the Generic Division was to be deducted from the profits of Bulk Drugs Division....

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....f the specific provision found in Section 80AB of the Act. Mr. Pinto submitted that to an extent Section 80AB of the Act restricts the deduction granted under Section 80HH and 80I of the Act. Mr. Pinto relies on the judgment of Commissioner of Income-Tax vs. Sundaravel Match Industries (P.) Ltd. 245 (ITR) 605 4. If one considers Section 80I of the Act it provides for deduction in respect of pro....