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2011 (4) TMI 867 - AT - Income TaxMinimum Alternation Tax(MAT) - Profits eligible for deduction under section 80HHC - computation of profits under section 115JB - Held that:- The relevant clauses which deals with the impugned issue are clause (iii) of sub-section (1A) of section 115J and clause (iv) of Explanation 1 below sub-section (ii) of 115JB of the Act - as decided in Ajanta Pharma Ltd. (2010 (9) TMI 8 - SUPREME COURT ) that MAT assessment is only an alternative scheme of assessment and what is clear from clause (iv) above is that even in the alternative scheme of assessment under section 115JB the assessee is entitled to deduction of export profit under section 80HHC Rectification u/s 254 - Similar views have also been expressed by the Guwahati High Court in the case of CIT v. Prahlad Rai Todi [2001 -TMI - 14081 - GAUHATI High Court] by holding that "A bare look at section 254(2) will show that this section gives the power to rectify any mistake apparent from the record and not to amend any order passed by it and to make such amendment if the mistake is brought to its notice by the Assessing Officer or the assessee - thus examining the order of the Tribunal it is found that the Tribunal has given a specific finding on the impugned issue which cannot be rectified or amended under the garb of rectification - Miscellaneous application of the assessee is dismissed
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