Not to argue, but the gasket goes on the flange side, however the bulkhead is installed.
Normally the flange side should be the wet side, but there are instances where it can be the other way around (if the threads are on the inside it will be a major PITA to remove the bulkhead once ca, tube worms and other hard deposits form on the threads)
If the bulkhead were installed with the nut on the wet side, and the gasket against the nut, there is a possibility/likelihood that water will seep through the threads and create a slow leak.
I would not reccomend putting the nut side inside the tank under normal circumstances - but there may be the exception.
*Personal exp; I installed the bulkheads with the nuts inside the overflows on my 120 because that made it a lot easier to place the tank on the stand with the bulkheads installed. This will make for a PITA if I ever need to remove or replace the bulkheads, but that's how I did it. In this example, the gaskets need to be outside the tank, against the flange. If I ever try to remove these bulkheads I will most likely need to shut down the retrun pump for several hours and soak the inside of the overflows in vinegar to free the threads.*
I don't mean to split hairs here, but if your (for some strange reason, like mine) going to install the bulkheads backwards - the gaskets go on the flange side.............