https://www.taxtmi.com/caselaws?id=5362 SC held that the Board's approval under section 80-O is confined to that provision and cannot determine eligibility under section 80HHB, which operates independently and does not require Board approval. The assessee was correctly granted deduction under section 80-O for years prior to AY 1983-84 pursuant to valid contractual approval. However, from AY 1983-84 onwards, section 80HHB, effective 1 April 1983, applied to the contract receipts as they related to a foreign project, and by virtue of section 80HHB(5), that deduction excluded any concurrent relief under section 80-O. Finding no anomaly in this statutory scheme, SC affirmed the HC's decision and dismissed the assessee's appeal. en-us Wed, 15 Jan 1992 00:00:00 +0530 Tue, 09 Dec 2025 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5362 SC held that the Board's approval under section 80-O is confined to that provision and cannot determine eligibility under section 80HHB, which operates independently and does not require Board approval. The assessee was correctly granted deduction under section 80-O for years prior to AY 1983-84 pursuant to valid contractual approval. However, from AY 1983-84 onwards, section 80HHB, effective 1 April 1983, applied to the contract receipts as they related to a foreign project, and by virtue of section 80HHB(5), that deduction excluded any concurrent relief under section 80-O. Finding no anomaly in this statutory scheme, SC affirmed the HC's decision and dismissed the assessee's appeal. Case-Laws Income Tax Wed, 15 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5362