1986 (11) TMI 137

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....ntum of deduction that is permissible under the Act. The plea of the assessee was that s. 80-I deduction follows s. 80-HH deduction under Chapter 6A and both these sections emphasised on deduction to be calculated at 20 per cent of the profits and gains of the undertaking. The Department, however, is restricting the deduction under s. 80-I at 20 per cent of the income arrived at after deduction of....

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....sis on amount to be allowed as a deduction in computing the total income of the assessee from such profits and gains of the undertaking of amount equal to 20 per cent thereof. The sections do not anywhere mention that the deduction to be allowed is 20 per cent of the income computed in accordance with the provisions of the act after the relief contained upto Chapter 6A. The s. 80HH(9) only provide....