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2014 (8) TMI 350 - PUNJAB & HARYANA HIGH COURTService charges of dyeing and knitting – Deduction u/s 80HHC - Whether the Tribunal was right in law in holding that service charges of dyeing and knitting to be excluded from the total turnover of the assessee while computing deduction u/s 80HHC – Held that:- The assessee is a manufacturer and exporter of cotton yarn, woolen hosiery garments and also trades in cotton yarn - The assessment was framed by the ACIT - Deduction u/s 80HHC of the Act was reduced as service charges were included in the total turnover for the computation of deduction u/s 80HHC of the Act - the Tribunal modified the order holding that service charges to be excluded from the total turnover for the purpose of computing deduction u/s 80HHC of the Act - Following the decision in Commissioner of Income Tax III, Ludhiana v M/s Nahar Spinning Mills Limited, Ludhiana – Decided against Revenue.
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