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2012 (8) TMI 698 - AT - Income TaxDeduction u/s. 80HHF in addition to treating an amount as exemption u/s. 10B of the I.T. Act by applying the provisions of Section 80HHC to the export turnover - While computing deduction under section 80HHF it included export profit of EOU Held that:- Profit derived from EOU should be reduced because profit derived by EOU was exempt from tax under section 10B – express intention of Legislature with regard to sections 10B and 80HHF is not to allow deduction under both sections and further, both of said sections expressly prohibits to allow deduction other than allowable under respective sections – order of Commissioner (Appeals) was to be confirmed Claim for deduction u/s. 10B - assessee have set up a new unit for production of media content software – alleged that production of a media content program on a beta-cam tape could not be equated with an article or thing and, therefore, assessee did not satisfy basic condition of manufacture and production of an article or a thing prescribed in section 10B - Held that:- Incorporeal rights contained in beta-cam tapes are 'goods' or 'merchandise' and, hence, entitled to deduction under section 10B
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