https://www.taxtmi.com/caselaws?id=122805 The Tribunal upheld the CIT(A)'s decision regarding the applicability of Section 80-IA(9) in conjunction with Section 80HHC, directing the Assessing Officer to compute deductions independently to ensure they do not exceed 100% of eligible profits. The case was remanded for verification. The challenge to the validity of reassessment proceedings was rejected, and the levy of interest u/s 234D was disallowed for the assessment year 2003-04. The revenue's appeals were allowed for statistical purposes, and the assessee's cross-objections were dismissed, except for the interest levy issue, which was allowed. en-us Wed, 23 Sep 2009 00:00:00 +0530 Fri, 17 Aug 2012 13:12:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122805 The Tribunal upheld the CIT(A)'s decision regarding the applicability of Section 80-IA(9) in conjunction with Section 80HHC, directing the Assessing Officer to compute deductions independently to ensure they do not exceed 100% of eligible profits. The case was remanded for verification. The challenge to the validity of reassessment proceedings was rejected, and the levy of interest u/s 234D was disallowed for the assessment year 2003-04. The revenue's appeals were allowed for statistical purposes, and the assessee's cross-objections were dismissed, except for the interest levy issue, which was allowed. Case-Laws Income Tax Wed, 23 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122805