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2011 (2) TMI 178 - HC - Income TaxComputation of deduction u/s 80HHD - Money-changer activity - When there is a reasonable dispute as to whether this facility of money changer, which is provided on no-profit-no-loss basis, can even be treated as business activity of the assessee and thus find part of total turnover - the judgment of the Supreme Court in CIT v. Lakshmi Machine Works [2007 -TMI - 6557 - SUPREME Court], the Tribunal while holding that since the receipts with the money changer would not be eligible for computation of the deduction admissible under section 80HHD and deserves to be excluded from the total turnover as a whole. As regards Expenditure tax - The order of the Tribunal would demonstrate that the Tribunal has not even addressed this issue though it was specifically raised before the Tribunal - Thus, in the first instance, the Tribunal should bestow its consideration on this aspect of the matter on merits - Accordingly remit this appeal to the Tribunal for its decision on that issue.
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