Rahul (CA Practice ) (1818 Points)10 May 2007
i have a query on 80HHC
For the purpose of computation of benefit under section 80HHC, whether b/f losses should be adjusted against business income for the year? According to me , benefit under section 80HHC should be computed without giving effect of b/f losses.
Effect of b/f should be given after allowing benefits under 80HHC.
Hoping for quicker response with references of judgments in favour and against above.