1995 (11) TMI 22 - HC - Income Tax

Summary

The High Court of Rajasthan ruled in favor of the Revenue in a case regarding the calculation of deductions under section 80HH of the Income-tax Act, 1961. The court held that deductions should be based on net income, not gross income as per the profit and loss account of the assessee. The Tribunal was deemed unjustified in its decision. (Case citation: 1995 (11) TMI 22 - RAJASTHAN High Court)