https://www.taxtmi.com/caselaws?id=19033 The court ruled against the assessee, determining that the deduction under section 80HH should be calculated at twenty percent of the net profits and gains from the industrial undertaking, considering deductions in accordance with the Income-tax Act provisions. The decision favored the Revenue, emphasizing that the relief should be based on net income rather than gross profits, aligning with Supreme Court precedents and rejecting the Appellate Tribunal's interpretation. en-us Wed, 19 Oct 1994 00:00:00 +0530 Tue, 03 Nov 2009 15:09:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19033 The court ruled against the assessee, determining that the deduction under section 80HH should be calculated at twenty percent of the net profits and gains from the industrial undertaking, considering deductions in accordance with the Income-tax Act provisions. The decision favored the Revenue, emphasizing that the relief should be based on net income rather than gross profits, aligning with Supreme Court precedents and rejecting the Appellate Tribunal's interpretation. Case-Laws Income Tax Wed, 19 Oct 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19033