https://www.taxtmi.com/caselaws?id=22729 Section 80MM relief was held to be computable on net consulting income after deducting the relevant expenses, not on the gross receipt. The Court treated the provision as materially similar to earlier deduction provisions already construed by the Supreme Court and applied that later reasoning, rejecting reliance on a Board circular based on an overruled view. The argument that the earlier Supreme Court ruling was confined to section 80M was rejected because the same principle had been extended to a comparable provision. The Revenue's interpretation was upheld and deduction on gross consulting fees was denied. en-us Fri, 08 Mar 1991 00:00:00 +0530 Sat, 12 Dec 2009 15:36:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22729 Section 80MM relief was held to be computable on net consulting income after deducting the relevant expenses, not on the gross receipt. The Court treated the provision as materially similar to earlier deduction provisions already construed by the Supreme Court and applied that later reasoning, rejecting reliance on a Board circular based on an overruled view. The argument that the earlier Supreme Court ruling was confined to section 80M was rejected because the same principle had been extended to a comparable provision. The Revenue's interpretation was upheld and deduction on gross consulting fees was denied. Case-Laws Income Tax Fri, 08 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22729