Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (1) TMI 184 - ITAT KOLKATARecomputation of deduction u/s 80HHC without reducing the amount of deduction u/s 80IB from the eligible profits - Held that:- It is noted that the Co-ordinate bench in the case of EIH Ltd vs DCIT [2015 (10) TMI 2022 - ITAT KOLKATA came to the conclusion that for the purpose of computing deduction u/s 80lA, the deduction u/s 80HHD need not be reduced as both the deductions are independent of each other, which we agree and concur with the said view. It is also a well settled position of law that in a case where two views are possible, the view which favours the assessee must be adopted. The said view has been affirmed by the Hon'ble Supreme Court in CIT -vs.- Vegetable Products Ltd.(1973 (1) TMI 1 - SUPREME Court ).Similar view has been taken in ACIT -vs.- Hindustan Steel Industries [2004 (9) TMI 289 - ITAT AGRA ] and Deputy Commissioner Of Income-Tax. Versus Oxemberg Fashions Limited. [2007 (3) TMI 284 - ITAT BOMBAY-E ] . Therefore we concur with the contention of the assessee and thus confirm the order of the ld. CIT(A). - Decided in favour of assessee
|