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2018 (12) TMI 692 - AT - Income TaxComputation of deduction u/s 80-0 - Held that:- As perused relevant material on record. So far as the method of computation of impugned deduction is concerned, we find that first appellate authority has merely followed the order of this Tribunal in assessee’s own case for AY 1995- 96. Nothing on record suggest that the aforesaid decision has even been over-ruled by any higher judicial authority or the same has no application for impugned AY. Therefore, the stand of Ld. CIT(A), in this regard, could not be faulted with. Ground Number-1 stands dismissed. Whether a deduction u/s. 80-O to the assessee aggregating total chapter VI-A deduction without considering the fact that as per provisions of section 80A(2) the aggregate amount of deductions under chapter VI-A shall not, in any case exceed the gross total income of the assessee - Held that:- We concur with the same that overall deduction under Chapter-VIA could not exceed gross total income of the assessee in terms of Section 80A(2). Therefore, the aforesaid deduction shall be granted by AO within this overall limit provided u/s 80A(2). The impugned order stand modified to that extent. Ground Number-2 stands allowed.
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