the entire amount of sales could not represent the income of the assessee who had not disclosed the sales, as the sales only represented the price received by the seller of the goods in excess over the cost incurred; in that event only the part of the profit could become the income. Fac...
rulesfordeduction: 1.Theaggregateamountofdeductionsunder sections80Cto80Ucannotexceedgrosstotal income(grosstotalincomeafterexcludinglong termcapitalgains,shorttermcapitalgainunder section111A,winningsfromlottery,crossword puzzlesetc.) 2.Thesedeductionsaretobeallowedonlyifthe assesseeclaimstheseandgivestheproofof...