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2012 (5) TMI 212 - HC - Income TaxSimultaneous deduction u/s 80HHC and 80IB - on the ground that 100% deduction had not been claimed on the profits when such allowance is not permissible under both the provisions in accordance with section 80-IA(9) of the Act read with section 80-IB(13). - held that:- the contention of the revenue that the profits and gains permitted to be deducted under Section 80-IA should be deducted out of the profits of the business and thereafter the profits and gains from export business is to be calculated, as otherwise it would amount to double benefit, is contrary to the scheme of the aforesaid statutory provisions as well as Clause (baa) to Explanation (ii) to Section 80-HHC. When once it is held that Sections under the heading " 'C' - deductions in respect of certain incomes" are independent of each other and the assessee is entitled to claim deduction under more than one Section, the deduction has to be necessarily in the profits and gains arrived at after making the claims in terms of the oforesaid Section. However, the overall claim under both Sections has to be restricted to the total profits and gains of such eligible business from gross total income. - Decided in favor of assessee.
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