The High Court affirmed the Tribunal\u2019s order holding that when the provisions of section\u00a080IB(13)\u00a0were read in conjunction with section\u00a080IA(9)\u00a0of the Act, the deduction under section\u00a080HHC\u00a0of the Act was to be computed on the eligible business profits only after reducing therefrom the profits on which deduction has already been availed of by the assessee under this section, i. e.,\u00a080IB, and if an assessee has claimed deduction of profits or gains under section\u00a080IB, deduction to that extent is not to be allowed under section\u00a080HHC, and that the Assessing Officer had been rightly directed to recompute the total income of the assessee keeping in view the provisions of section\u00a080-IB(13)\u00a0read with section\u00a080-IA(9)\u00a0of the Act. On a petition for special leave to appeal, order of the High Court was affirmed.\u00a0\u00a0 \u00a0(AY. 2001-02)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 263 : Commissioner – Revision of orders prejudicial to revenue -Total income -Eligible profit -Export profit -Deduction under Section 80HHC to be computed on eligible profits only after reducing profits on which deduction availed of under Section 80IB of the Act -Revision was affirmed -Special Leave to appeal of the assessee was dismissed. [S.80HHC, 800IA(9), 80IB(13)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-37494","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9KK","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/37494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=37494"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/37494\/revisions"}],"predecessor-version":[{"id":37495,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/37494\/revisions\/37495"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=37494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=37494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=37494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}