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2010 (10) TMI 855 - HC - Income TaxWhether deduction u/s 80 HHC is admissible on compensation received by the assessee in lieu of loss arising from tax payment in the absence of disclaimer certificate - Held that:- mere fact that the amount received by the assessee did not fall under Clauses (iiia), (iiib) or (iiic) of Section 28, was not enough to attract Section 80 HHC of the Act. Section 80 HHC of the Act was not attracted to every business income but only to income derived from export, as specified in the said Section. The amount received by the assessee was not shown to be covered by Section 80 HHC of the Act as the same was not from export as required therein. assessee has not been able to show how the compensation received by it will fall under Section 80 HHC of the Act. He only submits that the said income was a business income. Mere fact that the assessee derived business income not falling under Section 80 HHC(4B) explanation (baa)(1), which refers to income covered under Section 28(iiia), (iiib), (iiic) of the Act, is not enough to attract Section 80 HHC of the Actquestion of law raised by the revenue has to be answered in its favour and against the assessee. The appeal is allowed.
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