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A three judges' bench of the Supreme Court has held that deduction under Section 80HH of the Income Tax Act 1961 should be based on gross profits and income instead of the net income from profits and gains computed as per Sections 28 to 44B of the Act.Section 80HH grants deduction from total income at the rate of 20% of …
![Deduction Under Section 80HH Income Tax Act Should Be From 'Gross Profits & Gains' Instead Of 'Net Income' : SC [Read Judgment]](https://www.livelaw.in/h-upload/2019/03/02/358744-justices-a-k-sikri-abdul-nazeer-and-m-r-shah.jpg)