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2013 (12) TMI 1405 - AT - Income TaxDeduction u/s 80HHC – Whether loss can be set off against duty drawback received - Held that:- in view of amendment made by Taxation Laws (Amendment) Act, 2005 with retrospective effect from 1.4.1992 by inserting Fifth proviso to section 80HHC(3) - The total turnover of the assessee is export turnover - Assessee is entitled to set off 90% of the incentive received by way of duty draw back against loss in respect of its trading activity - Assessee is entitled to get the deduction u/s.80HHC – Decided in favour of assessee.
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