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2008 (2) TMI 419 - KARNATAKA HIGH COURTIntimation u/s 143(1)(a), (1A) - Deduction u/s 80HHC – whether additional tax under section 143(1A) of the Act can be levied on the assessee in rectification proceedings, which had not been made during the assessment year and that the prima facie adjustment and additional tax levied had been made in the original intimation itself? – held that - The deduction u/s 80HHC can be permitted only if there is positive profit in the exports of both self-manufactured goods as well as in trading goods. If there is loss in either of the two, then that loss could be taken into account for the purposes of computing the profit – yes, dditional tax under section 143(1A) of the Act can be levied on the assessee in rectification proceedings, which had not been made during the assessment year and that the prima facie adjustment and additional tax levied had been made in the original intimation itself
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