Provisions of section 80HHC of the Income-tax Act, 1961-Clarification regarding

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....tion regarding Circular No. 463 Dated 11/7/1986 Section 80HHC, as amended by the Finance Act, 1985, provides that an assessee, being an Indian company or a person (other than a company) who is resi....

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....account of the previous year in respect of which the deduction is to be allowed and credited to a reserve account to be utilised for the purposes of the business of the assessee. 2. The question whet....