https://www.taxtmi.com/caselaws?id=38296 The High Court clarified that deductions under section 80-O of the Income-tax Act should be based on the actual income received by the assessee, not the net income after deducting expenses. The Court upheld the Tribunal's decision in favor of the Indian private limited company, ruling that the deduction should apply to the gross fees received from foreign companies. The judgment establishes that the gross amount received should be considered for calculating deductions, providing clarity on the interpretation of section 80-O for Indian companies receiving fees from foreign entities. en-us Thu, 24 Feb 1977 00:00:00 +0530 Mon, 05 Apr 2010 13:28:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38296 The High Court clarified that deductions under section 80-O of the Income-tax Act should be based on the actual income received by the assessee, not the net income after deducting expenses. The Court upheld the Tribunal's decision in favor of the Indian private limited company, ruling that the deduction should apply to the gross fees received from foreign companies. The judgment establishes that the gross amount received should be considered for calculating deductions, providing clarity on the interpretation of section 80-O for Indian companies receiving fees from foreign entities. Case-Laws Income Tax Thu, 24 Feb 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38296