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2017 (7) TMI 816 - HC - Income TaxReopening of assessment - Deduction under Section 80HHC without taking into account the trading loss - Held that:- In case of M/s.Allana Sons Ltd. [2015 (2) TMI 992 - BOMBAY HIGH COURT] this court has observed that the amendment to Section 80 HHC(3) is with retrospective effect and the same was decided in favour of M/s.Allana Sons Ltd. M/s.Allana Sons Ltd. has been granted the benefit of deduction and these petitioners being supporting manufacturers also would be entitled for the same. view of the above, the very basis for issuance of notice is on an erroneous premise. - Decided in favour of assessee.
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