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2006 (7) TMI 197 - HC - Income TaxThe income from tea estate is computed applying sections 28 to 43C, and when computing the income, depreciation of 100 per cent. is allowed under section 32. Profit derived from export is to be computed for the purpose of the relief under section 80HHC in accordance with clause (a) of sub-section (3) on Assam tea without taking into account the turnover of tea from other estates. On the issue of determination of nature of loss on the sale of UTI, matter remanded back.
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