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2012 (12) TMI 363 - AT - Income TaxDeduction u/s 80IB - 80HHC – Revenue argued that deduction u/s 80HHC has to be computed only on the profits available after allowing deduction u/s 80IB – Held that:- Following the decision in case of MRF Limited (2009 (10) TMI 653 - MADRAS HIGH COURT) that both the two sections are independent and therefore the deduction can be claimed under both the sections on the gross total income. Issue decides in favour of assessee. Deduction u/s 80IB - Whether Job work charges eligible for deduction u/s 80IB – Held that:- Following the decision in assessee’s own case that for a person to be engaged in manufacturing activity it is not sine qua non that he should undertake all manufacturing activities by himself. It would be enough if he engages himself in a part of manufacturing activity and gets rest of it done through the agency of others. Therefore, the assessee is entitled to deduction u/s 80IB in respect of profits derived from the job work production. Issue decides in favour of assessee
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