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Court Rules 40% Deduction of Gross Receipts for Unaccounted Professional Income Expenses is Fair and Equitable.
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....Unaccounted professional income - Income estimation - the grant of 25% of the gross receipts towards expenses is very much on the lower side. In the interest of justice and equity, we are of the view that the expenditure of 40% towards the gross receipts should be allowed as deduction. - AT....