2011 (10) TMI 19

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....ay Singh, Adv., Judy James, Adv., N. Swarup, Adv., B.V. Balaram Das, Adv., for the Appellant   Ramesh Singh, Adv., Pratap Venugopal, Adv., and Namrata Sood, Adv., for the Respondent   JUDGEMENT   1. Assessee filed its return of income for assessment year 2000-01. Assessee claimed deduction under Section 80HHE to the extent of Rs.1,56,33,719/- against net profit as per profi....

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.... order of the A.O. The assessee went in appeal, against the order of the CIT(A), before the Tribunal which, following the judgment of the Special Bench of the Tribunal in the case of Deputy Commissioner of Income Tax, Range 8(3) v. Syncome Formulations (I) Limited (2007) 106 ITD 193, took the view that the MAT scheme which includes Section 115JA did not take away the benefits given under Section 8....

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....ed under Section 80HHC(3)/(3A). According to the Tribunal, once the law itself declares that the adjusted book profit is amenable for further deductions on specified grounds, in a case where Section 80HHC (80HHE in the present case) is operational, it becomes clear that computation for the deduction under those sections needs to be worked out on the basis of the adjusted book profit [See: para 61 ....