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2009 (12) TMI 579 - AT - Income TaxDeduction u/s. 80-IB and u/ s. 80HHC - The assessee cannot be given twin advantages of deduction both under s. 80HHC and s. 80-IB in view of the restriction imposed by s. 80-IA(9) - Section 115JB takes care of s. 80HHC alone and it does not touch upon the benefits available to an assessee under s. 80-IB - Once the book profit is arrived at by the assessing authority, the only relevant adjustment permitted is the deduction of benefits available under s. 80HHC - The benefit available to an assessee under s. 80-IB has no role to play in computing the quantum of deduction available to an assessee under s. 80HHC in the context of a MAT assessment – Hence, the quantum of deduction available under s. 80HHC by reducing it with the benefits available under s. 80-IB - The AO is directed to recompute the benefits available to the assessee under s. 80HHC in light of the book profits computed under s. 115JB without making any deduction under s.80-IB.
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