1999 (7) TMI 4 - SCH - Income Tax

Whether, on the facts and in the circumstances of the case, benefit of section 80HHC can be claimed on the total income after deduction of unabsorbed losses and unabsorbed depreciation or otherwise - High Court was not correct in dismissing the application under section 256(2) of the Income-tax Act, 1961. A question of law does arise. We, therefore, allow the appeal and direct the Tribunal to state the case and refer the above question of law to the High Court

Summary

The Supreme Court granted special leave and directed the Tribunal to refer the question of law regarding the claim of benefit under section 80HHC on total income after deduction of unabsorbed losses and unabsorbed depreciation.