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2004 (8) TMI 93 - BOMBAY HIGH COURTDeduction u/s 80HHC - Tribunal held that the Assessing Officer was not wrong in holding that in view of the fact that the assessee had loss from the export of trading goods, computed under sub-section (3) of section 80HHC, the ultimate figure of deduction under sub-section (3) is negative profit (loss) and, therefore, the deduction u/s 80HHC, was not available to the assessee. - Appellant submitted that the appellant has been assessed u/s 115JA and under clause (viii) thereof, the appellant is entitled to deduction u/s 80HHC. - Since the Tribunal did not commit any error in upholding the order of AO wherein it was held that the assessee was not entitled to deductions as specified in section 80HHC, the contention of assessee that he was entitled to benefit of deduction under clause (viii) of section 115JA is misconceived
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