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2005 (4) TMI 31 - ALLAHABAD HIGH COURTDeduction u/s 80HHC - Commissioner of Income-tax (Appeals) has recorded the finding that the assessee has created a valid reserve which was also verified by the Assessing Officer from the books of account, even if the reserve is not created at the time of submission of the return, but it could be created during the course of the assessment proceedings and such creation of reserve subsequently is held to be a proper compliance with the proviso to section 80HHC - We do not find any infirmity in the order of the Commissioner of Income-tax (Appeals), which has been confirmed by the Tribunal - Tribunal was correct in law in confirming the order of the CIT (Appeals) directing the Assessing Officer to allow deduction under section 80HHC, subject to various conditions being duly complied with
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