https://www.taxtmi.com/caselaws?id=17890 The High Court ruled in favor of the Revenue and against the assessee on both issues presented. Regarding the interpretation of deduction under section 80HH, the court emphasized that the net income, not the gross income, is eligible for deduction under this section. Additionally, the court determined that cash compensatory support receipts for export are taxable revenue receipts based on amendments to the law, specifying that such receipts fall under the head "Profits and gains of business or profession." The court's decision was influenced by the interpretation of relevant provisions and retrospective amendments to the Income-tax Act, 1961. en-us Tue, 14 Nov 1995 00:00:00 +0530 Fri, 25 Sep 2009 14:03:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17890 The High Court ruled in favor of the Revenue and against the assessee on both issues presented. Regarding the interpretation of deduction under section 80HH, the court emphasized that the net income, not the gross income, is eligible for deduction under this section. Additionally, the court determined that cash compensatory support receipts for export are taxable revenue receipts based on amendments to the law, specifying that such receipts fall under the head "Profits and gains of business or profession." The court's decision was influenced by the interpretation of relevant provisions and retrospective amendments to the Income-tax Act, 1961. Case-Laws Income Tax Tue, 14 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17890