https://www.taxtmi.com/caselaws?id=11862 Deduction under section 80-O was required to be computed with reference to the income actually included in gross total income, not on gross fees received. The Bombay High Court noted that "gross total income" under section 80B(5) means total income computed under the Act before Chapter VI-A deductions, and that the statutory scheme, reinforced by section 80AB, links such deductions to income computed under the Act. Gross receipts could not form the basis of the deduction, so the net income approach prevailed and the issue was answered in favour of the Department. en-us Wed, 05 Mar 2003 00:00:00 +0530 Wed, 10 Feb 2010 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11862 Deduction under section 80-O was required to be computed with reference to the income actually included in gross total income, not on gross fees received. The Bombay High Court noted that "gross total income" under section 80B(5) means total income computed under the Act before Chapter VI-A deductions, and that the statutory scheme, reinforced by section 80AB, links such deductions to income computed under the Act. Gross receipts could not form the basis of the deduction, so the net income approach prevailed and the issue was answered in favour of the Department. Case-Laws Income Tax Wed, 05 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11862