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2019 (4) TMI 862 - KERALA HIGH COURTReopening of assessment u/s 147 - computation of deduction u/s 80IA - 30% of total income or 30 % of profit of eligible business - HELD THAT:- The idea and understanding of the Revenue, with regard to the scope of Section 80AB, to enable them to reckon the figure of 30%, confining it to the lower extent of total income from all sources, instead of reckoning it as 30% of the business profit from the eligible business, is thoroughly wrong and misconceived. The stand of the Assessee is supported by ruling of the Division Bench of this court in COMMISSIONER OF INCOME TAX VERSUS JOSE THOMAS.[2001 (11) TMI 73 - KERALA HIGH COURT] Since there is no ambiguity in the provisions of Section 80IA, the statute has to be read and understood as it is and cannot be sought to be reI. written or supplemented in any manner. This is more so when Section 80AB stipulating the manner of computation under the Income Tax Act in respect of the deductions to be made under the Income Tax Act, does not come to the rescue of Revenue. This alone has been projected and highlighted by the Tribunal in the order under challenge. As it stand so, there is no substantial question of law to call for interference to decide the issue in favour of the Revenue. - Decided against revenue
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