Law:

Section:

Section 80-O of the Income-tax Act, 1961 - Deductions - Royalty etc., from certain foreign enterprise - Assessment years 1990-91 to 1993-94 Where assessee had preferred claim for deduction under section 80-O without furnishing details with regard to expenses incurred for earning gross income for assessment years in question, in absence of non-furnishing of particulars by assessee to claim benefit before Assessing Officer for purpose of section 80-O, same could not be accepted as deduction is allowable on net income and not on gross income [In favour of assessee] Where the assessee had preferred claim for deduction under section 80-O without furnishing the details with regard to expenses incurred for earning gross income for the assessment years in question, in the absence of non-furnishing of particulars by the assessee to claim the benefit before the Assessing Officer for the purpose of section 80-O, the same could not be accepted as deduction is allowable on net income and not on gross income as held by the instant Court in Asstt. CIT v. Abcon Engg. & Systems (P.) Ltd. [2006] 287 ITR 201. CASES REFERRED TO Amarchand Sobhachand v. CIT [1971] 82 ITR 591 (SC)(para 10) Cloth Traders (P) Ltd. v. Addl. CIT[1979] 118 ITR 243 (SC)(para 15), CIT (Asst.) v. Abcon Engineering and Systems (P.) Ltd. [2006]287 ITR 201 (Karn)(paras 6,15), CIT v. Asian Cable Corporation Ltd. (No. 2) [2003] 262 ITR 537(Bom)(para 6), CIT /EPT v. Jwala Prasad Tiwari [1953] 24 ITR 537 (Bom)(para 11), CIT v. KeralaState Industrial Development Corporation Ltd. [2007] 289 ITR 238 (Ker)(para 11), CIT v. M. .Dastur and Co. (P.) Ltd. [2000] 243 ITR 10 (Cal)(paras 1,7), CIT v. Micromax Systems (P.) Ltd. [2005] 277 ITR 409 (Mad)(para 4), CIT v. Vallabh Leasing and Finance Co. (P.) Ltd. [2004] 265 ITR 1(MP)(para 11), Distributors ( Baroda) P. Ltd. v. Union of India [1985] 155 ITR 120 (SC)(paras 7,15), Jubilant Organosys v. CIT [2004] 265 ITR 420 (All)(paras 4,14), M. . Dastur and Co.(P.) Ltd. v. Deputy CIT [1997] 62 ITD 113 (para 16), Motilal Pesticides (I.) (P.) Ltd. v. CIT [2000]243 ITR 26 (SC)(para 15), Sir Rama Varma (H.H.) v. CIT [1994] 205 ITR 433 (SC)(para 15) andVithaldas H. Dhanjibhai…

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