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2012 (3) TMI 475 - AT - Income TaxDisallowance of interest relatable to earning Dividend Income u/s. 14A - Held that:- Direct the AO to restrict the disallowance attributable towards earning of the dividend u/s 14A at 2% of the earning of dividend received. The ground taken by the assessee is, therefore, partly allowed. Deduction u/s 80HHC - disallowance of the contribution made to PF and ESIC - disallowance of depreciation - disallowing the payment made for non-competition - weighted deduction under section 35(2AB) - treat the profit on sale of DEPB license as export incentive and allow the deduction under section 80HHC under proviso to section 80HH(3) - computation of deduction under section 80HHC - deduction u/s 115JB on account of profits eligible for deduction u/s.80HHC - block assessment u/s. 158BC - brought forward losses and unabsorbed depreciation of Alchemie Organics Limited u/s 72A while computing the profits of the business for the purpose of S. 80HHC - Allowable business exp - SAP accounting package was scraped by the assessee due to commercial expediency.
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