2011 (7) TMI 169

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....Subbaraya Aiyer Padmanabhan   For Respondent: Mr.K.Suresh Kumar   JUDGMENT   CHITRA VENKATARAMAN, J.   The assessee is on appeal as against the order of the Tribunal. The assessee contended that irrespective of whether it is loss making or profit making unit the benefit of Section 80HHC of the Income Tax Act, 1961, should be granted to the assessee. It was further p....

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....of the Act, and if there is a loss the assessee would not be entitled to deduction.   3. The Apex Court had further held that the word "profit" in sub sections (1) and 3(1) and (b) of section 80HHC of the Act refers to positive profit. Thus, where there is a loss, no deduction would be available under Section (1) or sub-Section (3)(a) or sub-section (3)(b) of Section 80HHC of the Act. Thus....