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2006 (3) TMI 287 - ITAT RAJKOTIncome derived from exports - Whether section 80HHC deduction is to be allowed without excluding the deductions allowed under sections 80-I and 80G of the Act - HELD THAT:- The "profits of the business" which is the starting point for computing deduction under sub-section (3) of section 80HHC is defined in Explanation (baa) below sub-section (4C). Nowhere in these provisions is there any mention that while computing the deduction u/s 80HHC, the profit is to be reduced by deductions under sections 80-I and 80G which are allowed to the assessee. Therefore, the contention of the learned DR that a substantial question of law or a question of law arises has no merits. Even on merits, the assessee's case has merits and was rightly allowed by the CIT(A) as aforesaid. Thus, the appeal is to be rejected. In the result, the appeal of the revenue is dismissed.
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