1988 (6) TMI 65

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....Act, 1961 (hereinafter referred to as the Act). During the assessment year under consideration i.e. 1984-85 for which the accounting period ended on 30th April, 1983, the assessee claimed deduction under s. 80HHC of the Act on the export turnover of Rs. 49,15,457. The ITO disallowed the claim on the ground that "the gross total income after set off of carry forward loss in nil and therefore, in vi....

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....e deduction under s. 80HHC of the Act is subject to the provision of ss. 80A and 80AB and also the definition in s. 80B of the Act. By sub-s. (2) of s. 80A of the Act it has been specifically provided that "the aggregate amount of the deduction under this Chapter shall not, in any case, exceed the gross total income of the assessee." "Gross total income" has been defined in sub-s. (5) of s. 80B as....