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2009 (4) TMI 54 - MADRAS HIGH COURTBasis for computation of deduction u/s 80HHC – Section 80HHC is clear about this aspect that profit only is to be taken into account but not income and sub-section (3) of Section 115JA itself took care of the provisions relating to the adjustment of loss or depreciation and carry forward of the income – therefore, Tribunal rightly held that the computation of deduction u/s 80HHC is to be worked out on the basis of the adjusted book profits u/s 115JA only, and not in the profit arrived at in regular basis
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