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2006 (1) TMI 75 - HC - Income TaxRelief under section 80HHC – rectification - "1. Whether, Tribunal was right in holding that the assessee ought to be given an opportunity to create an increased investment allowance reserve, when it had not even created a reserve sufficient to cover the claim made in its return? 2. Whether, Tribunal was right in holding that the assessee should be granted the benefit of section 80HHC as per its claim, as the quantification could not be considered under section 154?" - held that even though losses should be deducted from the profit available for the purpose of computation of relief under section 80HHC, since the question of relief under section 80HHC is a debatable issue which does not fall within the purview of prima facie adjustment under section 143(1)(a) and could be taken up in regular assessment under section 143(3), the action of the Revenue invoking section 154 of the Act to rectify the intimation under section 143(1)(a) of the Act was not valid.
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