https://www.taxtmi.com/caselaws?id=4745 The Tribunal held that the relief under section 80HHC should be based on the profit ascertained under section 115JA and not on income computed under other sections. The Tribunal allowed the appeal filed by the assessee against the disallowance of deduction under section 80HHC, emphasizing the Assessing Officer's limited authority in computing book profits under section 115J. The presence of a non obstante clause in section 115JA was crucial in determining the eligibility for deduction under section 80HHC. The judgment also highlighted the tax effect and dismissed the Revenue's appeal for not meeting the criteria set by the Central Board of Direct Taxes Circular. en-us Mon, 10 Sep 2007 00:00:00 +0530 Sat, 26 Jul 2008 05:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4745 The Tribunal held that the relief under section 80HHC should be based on the profit ascertained under section 115JA and not on income computed under other sections. The Tribunal allowed the appeal filed by the assessee against the disallowance of deduction under section 80HHC, emphasizing the Assessing Officer's limited authority in computing book profits under section 115J. The presence of a non obstante clause in section 115JA was crucial in determining the eligibility for deduction under section 80HHC. The judgment also highlighted the tax effect and dismissed the Revenue's appeal for not meeting the criteria set by the Central Board of Direct Taxes Circular. Case-Laws Income Tax Mon, 10 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4745