Reduce Section 80IA/80IB deduction from Business Profits for 80HHC deduction

ITO Vs Madhusudhan Industries (ITAT Ahmedabad)

Introduction: The Income Tax Appellate Tribunal (ITAT) Ahmedabad made a significant decision in the case of ITO vs Madhusudhan Industries, establishing that the deductions under Sections 80IA/80IB should be subtracted from business profits for the calculation of the deduction under Section 80HHC. The case saw both Revenue and the assessee presenting cross-appeals against a common order.

Analysis: According to

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