Difference in opinion, whether gross total income eligible for deduction u/s 80HHC will be reduced by deduction already allowed u/s 80IA – SC

Brief of the Case

Supreme Court held In the case of ACIT vs. M/s. Micro Labs Ltd. that – As per first thought of opinion, Section 80-IA (9) is quite unambiguous, which clearly provides that if an assessee claims any deduction under the provisions of Section 80-IA, then the assessee cannot claim deduction to the extent of such profits and gains under heading ‘C’ of Chapter VIA of the Act, which, in the present case, was claimed and wrongly allowed to the Assessee. Section 80HHC, which pe

Please become a Premium member. If you are already a Premium member, login here to access the full content.