https://www.taxtmi.com/circulars?id=9451 Clarification instructs that the Sec.80MM deduction must be computed with reference to gross income for assessments up to and including the year before the effective date of the statutory net income rule inserted by Finance Act, 1980; the statutory net income computation under Sec.80AB applies only prospectively. Assessing officers are directed to inform staff and to rectify affected assessments under rectify u/s.154 and withdraw appeals or references based on the net-income computation for those earlier assessments. en-us Wed, 20 Jan 1982 00:00:00 +0530 Mon, 06 Jun 2011 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9451 Clarification instructs that the Sec.80MM deduction must be computed with reference to gross income for assessments up to and including the year before the effective date of the statutory net income rule inserted by Finance Act, 1980; the statutory net income computation under Sec.80AB applies only prospectively. Assessing officers are directed to inform staff and to rectify affected assessments under rectify u/s.154 and withdraw appeals or references based on the net-income computation for those earlier assessments. Circulars Income Tax Wed, 20 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9451