2010 (8) TMI 633

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....ya Aiyar Padmanabhan   Judgment   F.M.IBRAHIM KALIFULLA, J.   The Revenue has come forward with this appeal challenging the order of the Tribunal dated 18.12.2009 passed in ITA.No.1363 of 2008. The assessment year pertains to 2003-04. The issue arose out of rectification order passed by the Assessing Authority by order dated 11.06.2007 invoking his power under Section 154 o....

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....l, the respondent approached the Tribunal. The Tribunal held that such a claim made under Section 80HHC of the Act for the remaining 10% of the profits cannot be held to be a mistake apparent on the face of the record, inasmuch as the view taken by the Assessing Authority in the assessment order was a possible view. In other words, the Tribunal held that it cannot be said that there was any error ....

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....rently, it therefore would only mean that there was no prohibition for claiming any deduction under Section 80HHC while applying the benefits provided under Section 10A of the Act. If that is the statutory prescription, by which the assessee was entitled to claim a benefit under Section 80HHC in relation to the profits and gains while invoking Section 10A, it will have to be concluded that the ass....