1998 (11) TMI 23 - HC - Income Tax

Summary

The High Court of Madras ruled in favor of the Revenue regarding the deduction under section 80HH of the Income-tax Act, 1961 for an assessee with plant units in Madras and Hosur. The court held that the relief under section 80HH should be computed based on the profits of the specific plant at Hosur, as it was treated as a separate industrial undertaking. The judgment aligned with a previous decision and concluded that the deduction under section 80HH is allowable only after setting off losses.