https://www.taxtmi.com/caselaws?id=237926 The High Court ruled in favor of the revenue and against the assessee in an income tax appeal case. It held that for calculating the deduction under Section 80HHC, the turnover of the industrial undertaking in the Free Trade Zone, whose profits are exempt under Section 10A, should not be considered. The Court emphasized that deductions must be based on income included in the gross total income, as mandated by Section 80AB. The income tax department was instructed to act accordingly. en-us Fri, 04 Oct 2013 00:00:00 +0530 Fri, 11 Oct 2013 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237926 The High Court ruled in favor of the revenue and against the assessee in an income tax appeal case. It held that for calculating the deduction under Section 80HHC, the turnover of the industrial undertaking in the Free Trade Zone, whose profits are exempt under Section 10A, should not be considered. The Court emphasized that deductions must be based on income included in the gross total income, as mandated by Section 80AB. The income tax department was instructed to act accordingly. Case-Laws Income Tax Fri, 04 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237926