https://www.taxtmi.com/caselaws?id=202426 HC interpreted s.80-IA(9) to mandate that profits allowed as deduction under s.80-IA must be excluded while computing deduction under s.80HHC. It rejected the assessees' contention that s.80-IA(9) only caps aggregate deductions at business profits, holding the language plain and admitting of only one meaning. The Court found no conflict with s.80AB and held that accepting the assessees' view would render s.80-IA(9) redundant. Legislative intent is to prevent double deduction on the same profits under different provisions of Part C, Chapter VIA. The question of law was answered in favour of Revenue; Revenue's appeals were allowed and the Tribunal's orders set aside, while the assessees' appeals were dismissed. en-us Mon, 29 Nov 2010 00:00:00 +0530 Fri, 21 Nov 2025 13:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202426 HC interpreted s.80-IA(9) to mandate that profits allowed as deduction under s.80-IA must be excluded while computing deduction under s.80HHC. It rejected the assessees' contention that s.80-IA(9) only caps aggregate deductions at business profits, holding the language plain and admitting of only one meaning. The Court found no conflict with s.80AB and held that accepting the assessees' view would render s.80-IA(9) redundant. Legislative intent is to prevent double deduction on the same profits under different provisions of Part C, Chapter VIA. The question of law was answered in favour of Revenue; Revenue's appeals were allowed and the Tribunal's orders set aside, while the assessees' appeals were dismissed. Case-Laws Income Tax Mon, 29 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202426