06 November 2010
If any deficiency arises from speceial business , as per sec 44A, be allowed as a deduction in computing the income of the association assesseble for the relevant AY under the head profits and gain of B/F and if there is no income assessable under that head or deficiency allowable exceeeds such income, the whole or the balance of the defieciency , as the case may be , shall be allowed as a deduction in computing income of the association assessable for the the relevant AY under any other head.
CAclubindia
