Deduction under section 10AA clarified: allowed after total income computation and capped by that total income. The inserted Explanation to section 10AA provides that the deduction under section 10AA shall be allowed from the assessee's total income computed under the Act before giving effect to section 10AA, and that the deduction shall not exceed such total income, thereby clarifying the order of computation and capping the deduction.
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Provisions expressly mentioned in the judgment/order text.
Deduction under section 10AA clarified: allowed after total income computation and capped by that total income.
The inserted Explanation to section 10AA provides that the deduction under section 10AA shall be allowed from the assessee's total income computed under the Act before giving effect to section 10AA, and that the deduction shall not exceed such total income, thereby clarifying the order of computation and capping the deduction.
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