https://www.taxtmi.com/caselaws?id=60377 The Tribunal allowed the appeal, ruling that deductions under section 80HHC should be calculated based on the net amounts of income after deducting direct expenses, rather than the gross amounts. The Assessing Officer's approach of applying deductions to gross amounts was rejected, emphasizing the need to compute deductions on the net income to incentivize exports effectively. The Tribunal directed a reevaluation based on net amounts, ensuring that direct expenses are considered in determining the benefit under section 80HHC. en-us Tue, 28 Jul 1998 00:00:00 +0530 Tue, 04 Jan 2011 18:58:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60377 The Tribunal allowed the appeal, ruling that deductions under section 80HHC should be calculated based on the net amounts of income after deducting direct expenses, rather than the gross amounts. The Assessing Officer's approach of applying deductions to gross amounts was rejected, emphasizing the need to compute deductions on the net income to incentivize exports effectively. The Tribunal directed a reevaluation based on net amounts, ensuring that direct expenses are considered in determining the benefit under section 80HHC. Case-Laws Income Tax Tue, 28 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60377