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1995 (11) TMI 22 - RAJASTHAN HIGH COURTExtract: .......eduction under section 80HH with reference to profit as per profit and loss account of the assessee. The income eligible for deduction under section 80HH will be the net income as computed in accordance with the provisions of the Act and not the gross income. Consequently, the reference is answered in favour of the Revenue and against the assessee.
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