Held, that section\u00a080AB\u00a0of the Act states that the amount of income computed in accordance with the provisions of the Act and included in the gross total income is eligible for deduction. Hence, section\u00a080AB\u00a0is concerned with the quantum of income that is eligible for deduction under the heading \u201cC. Deduction in respect of certain income\u201d in Chapter VI-A. The Explanation inserted in section\u00a010AA\u00a0of the Act states that the deduction to be allowed under section\u00a010AA\u00a0of the Act shall be allowed from \u201cthe total income\u201d and shall not exceed such total income. Hence, the Explanation specifies \u201cthe stage\u201d at which the deduction under section\u00a010AA\u00a0of the Act should be allowed (i. e., from the total income) and also states that quantum of deduction should be restricted to the amount of total income. Accordingly, section\u00a080AB\u00a0and the Explanation inserted in section\u00a010AA\u00a0operate in different fields. The decision of the Commissioner (Appeals) did not require any interference. (AY.2017-18, 2018-19)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 10AA : Special Economic Zones-Qualifying profits 1Computation 1Gross total income 1Deduction to be allowed from the total income and shall not exceed such total income. [S.80AB] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-48868","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cIc","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=48868"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48868\/revisions"}],"predecessor-version":[{"id":48869,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48868\/revisions\/48869"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=48868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=48868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=48868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}