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2014 (7) TMI 1107 - AT - Income TaxBenefit of section 80HHC - Two divergent views - Held that:- The hon'ble Supreme Court of India in the case of CIT v. Vegetables Products Ltd. [1973 (1) TMI 1 - SUPREME Court] has held that where two views are available, the view in favour of the assessee has to be taken. We accordingly, following the view taken by the hon'ble Gujarat High Court in the case of Avani Exports v. CIT [2012 (7) TMI 190 - GUJARAT HIGH COURT]. - As regards computation of the quantum of deduction available to the assessee under section 80HHC, we deem it necessary to remit the files back to the Assessing Officer. The Assessing Officer shall recompute deduction in the light of decision rendered in the case of Avani Exports v. CIT [2012 (7) TMI 190 - GUJARAT HIGH COURT]. - Decided partly in favour of Revenue.
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