https://www.taxtmi.com/caselaws?id=343750 The High Court ruled in favor of the revenue and against the assessee in appeals challenging the Tribunal's decision on deduction calculation under sections 80IB and 80HHC of the Income Tax Act. The Court clarified that the disentitlement provision should be applied at the stage of considering the deduction under section 80HHC, affecting the computation of eligible profits. The Court directed the Assessing Officer to implement the order after a decision by the Larger Bench of the Supreme Court in a specific case. The Court instructed parties to abide by the Supreme Court's decision pending its applicability for the relevant assessment year. en-us Mon, 22 May 2017 00:00:00 +0530 Thu, 01 Jun 2017 07:22:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343750 The High Court ruled in favor of the revenue and against the assessee in appeals challenging the Tribunal's decision on deduction calculation under sections 80IB and 80HHC of the Income Tax Act. The Court clarified that the disentitlement provision should be applied at the stage of considering the deduction under section 80HHC, affecting the computation of eligible profits. The Court directed the Assessing Officer to implement the order after a decision by the Larger Bench of the Supreme Court in a specific case. The Court instructed parties to abide by the Supreme Court's decision pending its applicability for the relevant assessment year. Case-Laws Income Tax Mon, 22 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343750