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2012 (8) TMI 774 - HC - Income TaxDisallowance of Guest House expenditure u/s 32 - Held that:- As decided in Britannia Industries Limited Versus CIT And Another [2005 (10) TMI 30 - SUPREME COURT]disallowance of a sum, which was claimed by the assessee as expenses towards rent, repairs, depreciation and maintenance of a guest house which was purportedly used in connection with the business of the company - against assessee. Deduction u/s 80HH, 80I and 80IA are not allowable in view of Section 80AB - Held that:-when separate books of accounts are maintained by these Units and there was no mixing up of accounts of one unit with the other and there was no inter-dependency, the income earned from export goods from the Bangalore Unit merited to be considered independently for 100% relief as one falling under Section 80HHC(3)(a) of the Income Tax Act, the question of applying the formula did not arise - the assessment on the relief under Chapter VIA be set aside and the matter be remanded back for working out the relief, keeping however in the background that the relief under Chapter VIA cannot exceed the business income arrived at by the Officer.
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