2012 (5) TMI 823

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.... J.M. This appeal arises as a result of order passed by the Tribunal in Misc. Application No. 692/Mum/2010 (Arising out of ITA No. 71/Mum/2007) for A.Y. 2002-03 dtd. 11.2.2011 wherein the Tribunal has recalled its order for the limited purpose to decide the issue relating to phasing out provisions for deduction u/s 80HHC for the purpose of computing book profit u/s 115 JB of the Act afresh in the....

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....entitled to such special deduction under section 80HHC(1). Section 80HHC(3) was geared to the exports, whereas the levy under section 115JB was on the deemed income. The idea was to exclude "export profits" from the computation of book profits under section 115JB. (iii) That if the dichotomy between "eligibility" of profits and "deductibility" of profits was not kep....