https://www.taxtmi.com/caselaws?id=61905 The Tribunal ruled in favor of the revenue, holding that the deduction under section 32AB of the Income-tax Act should be calculated based on the profits and gains of the business alone, excluding dividend income and capital gains. The Tribunal emphasized that the deduction is to be computed at 20% of the profits of the eligible business as per audited accounts, following a previous judgment. As a result, the Tribunal reversed the decision of the CIT(Appeals) and clarified the correct method of computation, excluding dividend income and capital gains. en-us Thu, 08 Apr 1999 00:00:00 +0530 Sat, 15 Jan 2011 19:01:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61905 The Tribunal ruled in favor of the revenue, holding that the deduction under section 32AB of the Income-tax Act should be calculated based on the profits and gains of the business alone, excluding dividend income and capital gains. The Tribunal emphasized that the deduction is to be computed at 20% of the profits of the eligible business as per audited accounts, following a previous judgment. As a result, the Tribunal reversed the decision of the CIT(Appeals) and clarified the correct method of computation, excluding dividend income and capital gains. Case-Laws Income Tax Thu, 08 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61905