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2012 (5) TMI 389 - AT - Income TaxReassessment - Deduction u/s 10B - period of ten consecutive Assessment Years - During the course of reassessment proceedings, the validity of notice issued by the Assessing Officer u/s 148 was challenged by the assessee by raising certain objections - Held that: Tribunal vide its order dated 30.9.2011 passed in ITA No.2544/Mum/2006 has upheld the order of the learned CIT (A) for Assessment Year 2002-03 deciding the similar issue in favour of the assessee - Decided in favor of the assessee. Regarding deduction u/s 80HHC - this issue is squarely covered in favour of the Revenue and against the assessee by the decision of the Hon'ble Bombay High Court in the case of CIT vs Dresser Rand India P. Ltd (2010 -TMI - 76637 - BOMBAY HIGH COURT) wherein it was held that service charges received by the assessee which constitutes independent income has no element of export turnover and the same is consequently liable to be excluded to the extent that is stipulated in Explanation (baa) to Section 80HHC - Appeal is dismissed
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