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2011 (2) TMI 1393 - HC - Income TaxExtract: ....... business profits on which deduction under Section 80HHC of the Act would be admissible. The Tribunal was, thus, in error in allowing interest on fixed deposits while calculating deduction under Section 80HHC of the Act. Consequently, the questions of law are answered in favour of the revenue and against the assessee. 32. The appeals stand allowed.
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