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2017 (5) TMI 1641 - HC - Income TaxComputation of deduction u/s 80IB - whether Section 80HHC and 80IB are independent of each other and therefore deductions under both the sections on the gross total income is to be computed independently and not on the reduced balance after taking into account the other deduction? - Held that:- Appellant has relied upon the decision of Commissioner of Income Tax vs. Mandideep Eng. & PKG. India (P) Ltd. [2006 (4) TMI 75 - SUPREME COURT] wherein held as - "Section 80HH and 80-I are independent of each other and therefore a new industrial unit can claim deduction under both the sections on the gross total income independently." The respondent has pointed out that the same matter is referred to larger bench. In our considered opinion, the issue is answered in favour of the assessee as on today on the basis of decision of the Supreme Court which has upheld the decision of this court.
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