Examination of an agreement for purpose of Sec.80-O.

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..... ore approving the same under section 80-O. It was further stated therein that if any part of the consideration under the agreement falls within the ambit of section 80HHB, it cannot be considered for the purpose of section 80-O. 2. The Bombay High Court, in a recent judgment delivered on 17.9.1990 in the writ petition NO. 14 of 1988 filed by M/s Stup Consultants Ltd., has pointed out that the le .....

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..... ragraph 3(xix) of the Board's Instruction No. 1813 dated 27.3.1989 may be treated as withdrawn. The following sub-paragraph may be substituted for the existing one; "(xix) While examining an agreement for the purposes of section 80-O, the CCIT/DGIT should consider the agreement in question purely from the point of view of section 80-O and administration and application of section 80HHB vests with .....

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..... that it will be open to the Assessing Officer to examine whether the whole or part of the income under the agreement falls under section 80HHB(1) so as to disentitle such income from the benefit under section 80-O'. 5. These instructions may please be brought to the notice of all officers working in your region. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Man .....

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