https://www.taxtmi.com/caselaws?id=16786 Section 36(1)(viii) was construed to require the prescribed percentage deduction to be calculated on total income computed before Chapter VI-A deductions, and the later Finance Act, 1985 amendment was treated as clarificatory rather than a change in law. On that basis, the Board circular dated 12 November 1973 was consistent with the statutory scheme for the relevant period and supported the assessee's method of computation. The Tribunal's view that the circular was inapplicable or contrary to the Act was therefore incorrect. en-us Thu, 13 Nov 1997 00:00:00 +0530 Sat, 12 Sep 2009 12:20:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16786 Section 36(1)(viii) was construed to require the prescribed percentage deduction to be calculated on total income computed before Chapter VI-A deductions, and the later Finance Act, 1985 amendment was treated as clarificatory rather than a change in law. On that basis, the Board circular dated 12 November 1973 was consistent with the statutory scheme for the relevant period and supported the assessee's method of computation. The Tribunal's view that the circular was inapplicable or contrary to the Act was therefore incorrect. Case-Laws Income Tax Thu, 13 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16786