2000 (7) TMI 995 - HC - Income Tax

Summary

The High Court of Bombay dismissed the appeal regarding the adjustment made under section 143(1)(a) of the Income-tax Act, 1961. The court ruled that the Assessing Officer was not justified in reducing profits for deduction under section 80HHC by deduction admissible under section 32A. The Tribunal concluded that section 143(1)(a) cannot be invoked, and the Assessing Officer should proceed with regular assessment under section 143(2)/(3).