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2018 (11) TMI 1554 - MADRAS HIGH COURTEntitled to deduction u/s.80HHC in respect of 90% of income from sale of DEPB license - Held that:- Appeal, filed by the assessee, is allowed and the order passed by the Tribunal is set aside and the matter is remanded to the Assessing Officer to apply the decision in the case of Avani Exports v. Commissioner of Income Tax [2012 (7) TMI 190 - GUJARAT HIGH COURT] and to proceed to grant proper deduction to the assessee under Section 80HHC of the Act. Since the assessment pertains to the year 2003-04, the Assessing Officer is directed to give priority to the matter and conclude the proceedings within a period of three months from the date of receipt of copy of this judgment. No costs.
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