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2018 (7) TMI 1628 - HC - Income TaxDenying deduction u/s. 80HHC - reducing the export profit for the year by amount of brought forward unabsorbed depreciation and unabsorbed losses - Held that:- This issue stands concluded against the appellant-assessee and in favour of the respondent-Revenue by the decision of the Apex Court in IPCA Laboratory Ltd. vs. Deputy Commissioner of Income-Tax [2004 (3) TMI 9 - SUPREME COURT]. Computing book profit u/s 115JB - whether appellant is entitled to reduce the net profit as per Profit and loss Account by the profit eligible for deduction u/s. 80HHC computed with reference to book profit (after adjustments) as per explanation (iv) to section 115JB? - Held that:- This issue is no longer resintegra as it stands concluded in favour of the appellant-assessee by the decision of the Apex Court in Commissioner of Income-Tax V/s. Bhari Information Technology Systems P. Ltd, [2011 (10) TMI 19 - SUPREME COURT OF INDIA] Computing book profit u/s. 115JB the deduction should be of 100% of the amount calculated u/s. 80HHC(3)- Held that:- This issue is also no longer res-integra. This is so as it stands concluded by the decision of the Apex Court in Ajanta Pharma Ltd. vs. CIT [2010 (9) TMI 8 - SUPREME COURT] in favour of the appellant-assessee and against the Respondent-Revenue. Levy of interest u/s. 234B, 234C and 234D on income taxes payable on the deemed income u/s. 115JB - Held that:- his issue stands concluded against the appellant-assessee and in favour of the respondent-Revenue. This, by the decision of this Court in Joint Commissioner of Income-Tax v. Rolta India Ltd. [2011 (1) TMI 5 - SUPREME COURT OF INDIA]
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