Deduction under section 115J follows the computation method of sections 80HHC and 80HHD, not their quantified amounts. Clause (iii) requires that the net profit shown in the profit and loss account be adjusted as per the Explanation's specified additions and deductions and that the deduction from book profits be computed by applying the procedural proportionate methods used in the export-deduction rules; if the business is exclusively eligible the full adjusted amount is deductible, otherwise the relevant export-related turnover or receipts proportion is applied to the adjusted amount to determine the deduction.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction under section 115J follows the computation method of sections 80HHC and 80HHD, not their quantified amounts.
Clause (iii) requires that the net profit shown in the profit and loss account be adjusted as per the Explanation's specified additions and deductions and that the deduction from book profits be computed by applying the procedural proportionate methods used in the export-deduction rules; if the business is exclusively eligible the full adjusted amount is deductible, otherwise the relevant export-related turnover or receipts proportion is applied to the adjusted amount to determine the deduction.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
