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2015 (11) TMI 495 - SC - Income TaxEntitlement to deduction under section 80HH - deduction allowed on gross or net income - Held that:- As decided in Motilal Pesticides (I.) Pvt. Ltd. Versus Commissioner of Income-Tax [2000 (2) TMI 9 - SUPREME Court] that deduction is to be allowed only on the net income and not on the gross income. The finding in paragraph 4 in Motilal Pesticides (supra) that the language of Section 80 -HH and Section 80 -M is the same is, with respect, prima facie, incorrect. Conceptually, "any income" and "profits and gains" are different under the Income Tax Act. The matters be placed before the Hon'ble Chief Justice of India to constitute an appropriate Bench to consider the correctness of the judgment in Motilal Pesticides (supra).
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