2005 (8) TMI 32

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..... ort of both self-manufactured goods and trading goods, the profits & losses in both the trades have to be taken into consideration. If after such adjustments, there is a positive profit, the assessee would be entitled to deduction u/s 80HHC(1)
Judge(s) : Y. K. SABHARWAL. and G. P. MATHUR. ORDER Heard learned counsel for the parties. Delay condoned. Leave granted. The only question before t .....

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..... trading goods, the profits and losses in both the trades have to be taken into consideration. If after such adjustments, there is a positive profit, the assessee would be entitled to deduction under section 80HHC(1). If there is a loss, he will not be entitled to any deduction. In this view, we set aside the impugned judgment, allow the appeal and answer the question in the affirmative, i.e., in .....

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