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2012 (6) TMI 228 - HC - Income TaxDeduction under Section 80HHC - appellant submitted that the Tribunal committed a fundamental error inasmuch as they have not considered eligibility of the respondent-assessees for deduction under Section 80HHC with respect to the profit on transfer of DEPB benefit – Held that:- matters remanded to the Tribunal with specific direction to them to consider the eligibility of the respondent-assessees for benefits under the proviso introduced, and if the respondent-assessees are found eligible then only to consider the question of computation of the relief Expenditure on issue of bonus shares – Held that:- in view of the case of General Insurance Corpn. (2006 - TMI - 6547 - SUPREME Court - Income Tax), decided in favor of assessee.
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