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2022 (8) TMI 957 - AT - Income TaxComputation of Deduction u/s 80P - calculation of gross contractual value - HELD THAT:- In its fact, that the gross receipt should be determined by allowing the reasonable deduction of the items like TDS, VAT, security letter cess and other deduction. Accordingly, the assessee made a correct calculation related to calculation of the contract receipt. Both the Revenue authorities cannot go beyond the jurisdiction of all the orders of Hon’ble ITAT. Hon’ble ITAT directed denavo assessment it does not mean that the essence of the judgment should be avoided in any means. For, the deduction u/s 80P(2)(a)(vi) of the Act the assessee is eligible. Respectful observation of the order in the case of CIT v. Gurdaspur Hardochhenni Coop. L/C Society [2007 (2) TMI 214 - PUNJAB AND HARYANA HIGH COURT]. Accordingly, the gross receipt of the assessee is restricted amount to Rs.69,02,988/-. There is no change in the profit per centage. Accordingly, the assessee is eligible u/s 80P(2)(a)(vi).
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