https://www.taxtmi.com/caselaws?id=371923 Deduction under section 80-O was to be computed by reducing only direct expenses from foreign receipts, because the Tribunal followed its earlier ruling that indirect expenditure could not be allocated on an estimated basis in the absence of any contrary material. However, the aggregate deduction claimed under Chapter VI-A could not exceed the gross total income, and section 80A(2) required the section 80-O deduction to be confined within that statutory ceiling. The computation method was therefore upheld, but the allowance was restricted to ensure compliance with the gross total income limit. en-us Tue, 11 Dec 2018 00:00:00 +0530 Fri, 14 Dec 2018 07:21:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371923 Deduction under section 80-O was to be computed by reducing only direct expenses from foreign receipts, because the Tribunal followed its earlier ruling that indirect expenditure could not be allocated on an estimated basis in the absence of any contrary material. However, the aggregate deduction claimed under Chapter VI-A could not exceed the gross total income, and section 80A(2) required the section 80-O deduction to be confined within that statutory ceiling. The computation method was therefore upheld, but the allowance was restricted to ensure compliance with the gross total income limit. Case-Laws Income Tax Tue, 11 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371923