https://www.taxtmi.com/caselaws?id=458026 The ITAT remanded the case to the AO for recomputation of income under section 11 of the Income Tax Act, emphasizing that deductions under section 11(1)(a) should be calculated based on gross receipts before considering other deductions. This procedural outcome favored the assessee, ensuring compliance with legal provisions and Supreme Court interpretations. en-us Fri, 10 Jun 2022 00:00:00 +0530 Tue, 01 Oct 2024 18:12:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458026 The ITAT remanded the case to the AO for recomputation of income under section 11 of the Income Tax Act, emphasizing that deductions under section 11(1)(a) should be calculated based on gross receipts before considering other deductions. This procedural outcome favored the assessee, ensuring compliance with legal provisions and Supreme Court interpretations. Case-Laws Income Tax Fri, 10 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458026