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2012 (5) TMI 313 - ITAT COCHINDeduction u/s 80HHC - Whether Explanation (e) to sub-sec. (3) to section 80HHC can override the clause (b) to section 80HHC(3) of the Income-tax Act, 1961 - held that:- only indirect costs attributable to export have to be reduced for computing the deduction u/s 80HHC in respect of export of trading goods and not all costs other than direct costs. In other words, first, attribution of indirect costs to the export of trading goods is to be made and then only scaling down in proportion is to be resorted to.
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