2009 (5) TMI 574

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..... HHC deduction granted under section 80-IB cannot be reckoned or has to be excluded - Appeal on this issue is rejected . Supporting manufacturer - Held that: - in view of the decision of the Supreme Court in Janatha Cashew Exporting Co. v. CIT (2007 -TMI - 32545 - SUPREME COURT), the assessee is entitled to deduction of export profit arising from export of goods made through export houses the asse .....

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..... ct. However, by virtue of section 80-IB(13) read with section 80-IA(9) of the Act the assessee will not be entitled to claim deductions both under section 80-IB and under section 80HHC of the Act. The Tribunal following their Full Bench decision upheld the disallowance under section 80-IB(13) of the Act, but granted deduction under section 80HHC of the Act. Even though senior counsel appearing for .....

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..... f the Supreme Court in Janatha Cashew Exporting Co. v. CIT [2009] 309 ITR 440, the assessee is entitled to deduction of export profit arising from export of goods made through export houses the assessee acting as supporting manufacturer. However, it is on condition of availability of disclaimer certificate issued by the export houses. It is for the assessee to produce disclaimer certificate in the .....

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