Deduction under s 80HHC or special deduction

For the computation of deduction under any section under Heading C of Ch VI-A, the profits of business are not to be reduced by the profits in respect of which deduction under s 80-IA has been allowed — as held by MumTrib in Dy CIT v Hindustan Lever Ltd — In favour of: The assessee.

The restriction in s 80-IA(9) relates to the allowance of deduction and not to the computation of deduction.

Reassessment — The reopening of an assessment after the expiry of four years is invalid if there is no failure on the part of the assessee to disclose fully and truly all material facts regarding its claim of deduction.

Decided on: 19 August 2011.