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TMI Blog2016 (3) TMI 463X X X X Extracts X X X X X X X X Extracts X X X X ..... l Kureshi ) At the time of admission of the appeal, only Question No.1 was framed for consideration of this Court: "Whether the ITAT was right in law and on facts in holding that deduction under Section 80HHC is to be calculated without excluding the profit of Daman Unit of the assessee on which 100% deduction allowed under Section 80IB?" Learned Counsel for the Revenue correctly points out tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erefore, would have to be applied at the very stage to assessee's claim for deduction under section 80HHC of the Act is considered. While computing such deduction the effect of subsection (9) of section 80IA would have to be given. We do not think that in the process we are tinkering with the formula for computation of eligible profit for deduction under section 80HHC of the Act. We have notic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... visions contained in subchapter C of Chapter VI in respect of any income specified in such section, then, notwithstanding anything contained in that section, for the purpose of computing deduction, the amount of income of that nature as computed in accordance with the provisions of the Act shall alone be deemed to be the amount of income of that nature, which is derived or received by the assess, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds "where any deduction is required to be made or allowed under any Section of this Chapter". This would include Section 80HHC. Section 80AB further provides that "notwithstanding anything contained in that Section". Thus Section 80AB has been given an overriding effect over all other Sections in Chapter VIA. Section 80HHC does not provide that its provisions are to prevail over Section 80AB or ov ..... X X X X Extracts X X X X X X X X Extracts X X X X
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