https://www.taxtmi.com/caselaws?id=16567 The Tribunal was directed to refer to the High Court the question whether exemption for income from purchase and supply of fertilisers to members under section 80P(2)(a)(iv) applies to the gross profit after deducting proportionate expenses. The operative issue is the computation of the exempt income base, specifically whether only net profit or gross profit, adjusted for attributable expenses, qualifies for the deduction. The reference was framed on that legal computation point under the Income-tax Act. en-us Fri, 24 Jan 1997 00:00:00 +0530 Tue, 08 Sep 2009 15:37:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16567 The Tribunal was directed to refer to the High Court the question whether exemption for income from purchase and supply of fertilisers to members under section 80P(2)(a)(iv) applies to the gross profit after deducting proportionate expenses. The operative issue is the computation of the exempt income base, specifically whether only net profit or gross profit, adjusted for attributable expenses, qualifies for the deduction. The reference was framed on that legal computation point under the Income-tax Act. Case-Laws Income Tax Fri, 24 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16567