1987 (1) TMI 489 - HC - Income Tax

Summary

The Delhi High Court ruled that the assessee company was not entitled to relief under section 80-O of the Income Tax Act on the gross receipt of Rs. 57,320 for the assessment year 1968-69. The decision was based on a Supreme Court ruling that deductions under section 80-O should be calculated on the basis of net income, not gross income.