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![Deduction under Sec 80O of the Income Tax Act is allowable on the Net Basis, Not on Gross Receipts: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-2-Tax-Scan.jpg "Deduction under Sec 80O of the Income Tax Act is allowable on the Net Basis, Not on Gross Receipts: Bombay HC [Read Judgment]")
Deduction under Sec 80O of the Income Tax Act is allowable on the Net Basis, Not on Gross Receipts: Bombay HC [Read Judgment]
In a recent decision, the division bench of the Bombay High Court held that the deduction under section 80O of the Income Tax Act, 1961 is allowable...