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2016 (2) TMI 875 - AT - Income TaxComputation of deduction under section 80IA - assessee had already claimed deduction under section 80HHC - Held that:- We modify the directions of the CIT(A) and direct the Assessing Officer to first compute the deduction under section 80IA of the Act and restrict the deduction under section 80HHC of the Act to the profits of business that remains after excluding the profits on which deduction under section 80IA of the Act is allowed. Further, the Assessing Officer is directed to restrict the total deduction to be allowed under sections 80IA and 80HHC of the Act to the extent of 100% of the eligible profits as directed by the Hon’ble Bombay High Court in Associated Capsules (P.) Ltd. Vs. DCIT (2011 (1) TMI 787 - BOMBAY HIGH COURT ).
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