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2008 (9) TMI 10 - HC - Income TaxDeduction under Section 80 HHC & 80IB claimed without deducting depreciation while arriving at eligible profits and gains - Profits and gains of a newly established undertaking have to be computed as per the provisions of section 29 to section 43A and if the assessee claims relief under Chapter VI-A of the Act, then it is not open to the assessee to disclaim depreciation allowance - claim for allowance of deduction without taking into consideration the current depreciation, is rejected
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