Following earlier order of Tribunal deduction is allowed under section 80HHC of the Act. As regards simultaneous claim of deduction under sections 80HHC and 80-IA, when a certain profit or gain had already been granted deduction under section 80IA, to the extent specified in sub-section (9) of section 80IA, claim of deduction under other provisions, including section 80HHC, would not be available for the assessee’s lease rental income in view of section 80-IA(9).(AY.2000-01, 2002-03, 2003-04, 2004-05)
Inox India Ltd. v. Dy. CIT(2024)116 ITR 53 (SN)/ 169 taxmann.com 118 (Ahd)(Trib)
S. 80HHC : Export-Manufacturing and letting out vacuum insulated tanks and related products-Lease rent-Business income-Eligible for deduction-Deduction not to be allowed on profits to extent deduction already allowed under Section 8OIA of the Act.