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2023 (9) TMI 984 - HC - Income TaxDeduction u/s 80HHC - deduction u/s 80IB of the Act was not be reduced before calculating the eligible deduction - As submitted that the case in Micro Labs Ltd. [2015 (12) TMI 708 - SUPREME COURT] is yet to attain finality. HELD THAT:- Considering the submissions made by the learned counsel appearing for both sides and also following the aforesaid judgment of this court in M/s.Carborandum Universal Ltd [2021 (9) TMI 1514 - MADRAS HIGH COURT] - we are inclined to dispose of this appeal in the same lines. Accordingly, the orders of the authorities below are set aside and the matter is restored to the file of the AO, who shall await the decision of the Larger Bench of the Hon'ble Supreme Court in the reference made in the case of Micro Labs Ltd (Supra). Consequently, the substantial question of law raised herein is left open.
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