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2013 (5) TMI 664 - HC - Income TaxMiscellaneous income and interest income - MAT - grievance of the assessee was only that the deductions to 30% of the deduction u/s 80HHC by invoking Section 80HHC (1B) while computing the book profit under Section 115JB was allowed - Held that:- The issue is no longer in dispute in view of the decision of in the case of Ajanta Pharma v. CIT (2010 (9) TMI 8 - SUPREME COURT) where it was made clear that 100% of the deduction would be allowable. Therefore AO was wrong in allowing only 30% of the deduction allowable under Section 80HHC for the purposes of computing book profits under Section 115JB. It is therefore, apparent that with regard to the issue of miscellaneous income and interest income, there was no dispute with the AO’s treatment of the same as being part of business income. Consequently, the contention sought to be raised on behalf of the revenue that the miscellaneous income and interest income should be excluded does not arise at all. This is so because the assessing officer had treated the same as part of business income of the assessee - no question of law arises for our consideration.
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