2011 (4) TMI 96 - HC - Income Tax

Deduction u/s 80HHC / 80IA - Whether on the facts and in the circumstances of the case, the ITAT was correct in upholding the order of the ld. CIT(A) in directing the A.O. not to restrict the deduction u/s 80HHC as per provisions of Section 80IB(13) r.w. section 801A(9) of the I.T.Act, 1961? Held that the matter is covered against the assessee by order of this Court dated 18.4.2011 in ITA No.469 of 2010 Asin Exim International Vs. Commissioner of Income Tax 2011 -TMI - 203416 - PUNJAB AND HARYANA HIGH COURT wherein it was held that if deduction under Section 80-IA has been taken, deduction under Section 80HHC was not admissible in view of Section 80IB(13) read with Section 80-IA(9) of the Act, - Hence, answered in favour of the revenue -The appeal is allowed.

Summary

The High Court of Punjab and Haryana heard an appeal under Section 260A of the Income Tax Act, 1961. The appellant challenged an order of the Income Tax Appellate Tribunal regarding deduction u/s 80HHC. The Court ruled in favor of the revenue, stating that if deduction under Section 80-IA is taken, deduction under Section 80HHC is not admissible. The appeal was allowed.