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2009 (4) TMI 87 - HC - Income TaxWhether ITAT was right in cancelling the order CIT u/s 263 on the ground that deduction u/s 80HHC was allowable on the basis of book profits and not on the basis of eligible profits u/s 80HHC as per computation under the normal provisions of the Income Tax Act, while computing the books profits u/s 115JB - Assessing Officer is not entitled to touch the profit and loss account prepared by the assessee as per the provisions contained in the Companies Act, while arriving at the book profit under Section 115J and the book profit so arrived at should be the basis for taxation and therefore, the computation under Section 80HHC should be limited to the case of profits of eligible category only - question of law is answered against the revenue and the appeals are dismissed
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