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2010 (11) TMI 520 - AT - Income TaxDisallowance - Whether foreign exchange loss is a part of the cost of material - Tribunal has decided the issue in favour of the assessee and he has no objection, if the issue is restored to the file of the Assessing Officer for considering the issue in the light of the decision of the Tribunal Regarding disallowance u/s 14A - assessee company has claimed dividend income amounting to Rs.37,13,803/- as exempt u/s 10(33) of the Act - It is the submission of the ld counsel for the assessee that the calculation made by the Assessing Officer, is erroneous since he has included the manufacturing expenses for calculating proportionate disallowance u/s 14A although in the assessment order, he has mentioned that proportionate disallowance has to be claimed on the basis of administrative and other expenses other than manufacturing expenses incurred during the year - Appeal is allowed for statistical purpose Regarding deduction u/s 80HHC - in assessee' s own case and in absence of any contrary material brought to our notice - Held that: not to exclude the lease rentals and sale of scrap from profit of the business while computing relief u/s 80HHC - Appeal is allowed for statistical purpose
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