1995 (11) TMI 444

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..... stances of the case, the Tribunal was legally justified in holding that : (i) the amount of subsidy received by the assessee should not be deducted from the cost of assets for the purposes of allowing depreciation ? (ii) Investment allowance being special deduction under the IT Act for the purposes of computing the income, cannot be deducted from the commercial profits for the deduction unde .....

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..... j) 132] and the Division Bench of this Court answered the question as follows : If we read s. 80HH with s. 80AB of the Act then it is very much clear that for the purpose of determination of the relief under s. 80HH of the Act, the gross total income of the assessee has to be worked out after deducting unabsorbed loss and unabsorbed depreciation and the income eligible for deduction under s. 8 .....

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