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2014 (1) TMI 1587 - HC - Income TaxWhether deduction u/s 80HHC be allowed without reducing therefrom deduction u/s 80IB - Held that:- Section 80HHC of the Act is not a self contained provision - The deduction cannot be allowed ignoring the restrictive clause contained in Section 80-IA(9)- The restrictive clause in Section 80IA makes it abundantly clear that wherever deduction under any other section of Chapter VI-A(C) is claimed, the computation will be subject to the restrictions laid down in Section 80-IA (9) - When provisions of Section 80IB(13) are read in conjunction with Section 80IA(9) of the Act, it becomes clear that deduction under Section 80HHC of the Act is to be computed on the eligible business profits only after reducing therefrom the portion of profit on which deduction has already been availed by the assessee under section 80IB - Decided against assessee.
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